Press releases

18th Aug 2014 Back to top
8th Aug 2014 Back to top
  • June 2014 – Credit Card Market

    BBA chief economist, Richard Woolhouse, said:

    “These figures suggest that British consumers have greater appetite to take on credit as the recovery takes hold. The number of payments on credit cards in June was 15% higher than in the same month last year.

    “Customers are also harnessing more interest-free offers which show they are using these cards to take more control over how they spend and borrow.

    “More than 40 per cent of all borrowing on cards incurs no interest at all. Customers clearly value the flexibility a credit card in your wallet or purse can give.”

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7th Aug 2014 Back to top
  • BBA comment on ONS internet access figures

    Commenting on Office of National Statistics figures on internet access, BBA Chief Executive Anthony Browne said:

    “It’s great that more people than ever are banking online. Banks are working hard to make online banking accessible to everyone and online and mobile banking mean it’s now easier than ever to stay on top of your finances.

    “It’s particularly good to see an increase in online banking amongst the over 50s who are now more likely to bank on the internet than to use Facebook or book a holiday.

    “Of course we recognise that internet banking isn’t for everyone, and that’s why across the country the bank branch network is being modernised to ensure that all customers get the best possible service.”

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6th Aug 2014 Back to top
  • BBA response to the Chancellor’s speech on support for tech businesses and small firms

    BBA Executive Director, Irene Graham said:

    “The banking industry fully supports efforts to help match businesses rejected for finance with other lenders. In fact many of the banks already run programmes that refer businesses unsuited to bank finance to a range of alternative providers.

    “We are also keen that any new process should give customers as many options as possible so that they can get the right finance for their business. It is equally important that the customer’s consent and choice is kept at the centre of any future scheme.”

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30th Jul 2014 Back to top
  • BBA comment on BoE announcement on remuneration

    “One banker rewarded for failure is one too many. That’s why banks have already taken steps to right the wrongs of the last decade, cutting cash bonuses by more than 75% and fixing rewards more closely to the long-term health of the business. We also agree that clawbacks can certainly be a useful way to discourage wrongdoing and are in the interests of customers and shareholders.

    “We’ll examine the detail of these new proposals with interest, but it is important that any new regulation does not put British banks at a disadvantage when it comes to attracting and retaining the best workers here and overseas.”

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23rd Jul 2014 Back to top
  • June 2014 figures for the high street banks

    Richard Woolhouse Chief Economist at the BBA said:

    “These figures show that mortgage approvals are rising again after four months of decline. That’s encouraging because those decisions are a leading indicator of what’s happening in the housing market.

    “But the jury is still out on exactly how the new rules are affecting customer applications or approvals.

    “Nevertheless, the higher demand for personal loans suggests that the consumer’s  confidence in the recovery is growing.”

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  • It’s time to confront decades of slow growth in Europe, says BBA in new report

    The BBA today urges Europe’s leaders to make kick-starting economic growth their “top priority” and sets out a twelve-point plan setting out how this could be done.

    In the report – Financing European Growth – the banks set out detailed proposals that will promote growth by improving access to finance for SMEs, boosting exports, strengthening infrastructure investment and enhancing the EU’s global competitiveness.

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21st Jul 2014 Back to top
20th Jul 2014 Back to top
  • BBA Comment on Which? release on the cost of current accounts

    Responding to the Which? investigation and release entitled “The real cost of current accounts” the BBA’s Executive Director of Retail, Eric Leenders, said:

    “Banks already help customers to compare account charges in a variety of ways such as making literature available in branches and online calculators. They also itemise charges on bank statements and use text alerts to communicate important account information instantly.

    “All the major banks also participate in the Government’s midata initiative to encourage transparency and make information about customers’ current account use available to them in a downloadable format.

    “The good news is that across the board overdraft charges have plummeted since 2008, with estimated consumer savings of up to £928 million over the past five years.”

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