November 2011 figures for the main high street banks1
23/12/2011

Annual growth of the banks' net mortgage lending was 1.4% compared with annual market growth of 0.6% in October for mortgage lending by all lenders.

BBA statistics director, David Dooks said:
"November’s £8 billion of new mortgages, £7billion of new card credit and £1billion of new personal loans show that household finance continues to be provided by the banks, but until there are clear signs of improvement in the economy and stability on the international front, households and businesses lack the confidence needed to seek credit for spending or investment. Stocks of bank lending therefore continue to be driven down, as repayments dominate over the absence of any material rise in borrowing demand.”

Please find the full release and excel tables via the links below.

Notes to Editors

1. The main high street banking groups (MBBG) account for some two-thirds of all UK mortgage lending outstanding, provide around half of all consumer credit and, within that, some 60% of all new card credit based on the Bank of England’s ‘lending to individuals’ data. They include the six largest UK retail lending groups: Santander UK (including Alliance & Leicester and Bradford & Bingley deposits), Barclays, HSBC Bank, Lloyds Banking Group, Northern Rock and Royal Bank of Scotland Group.

2. Following a change in statistical reporting in January 2010, securitised loan assets held within special purpose vehicles became included in their parent banks’ reported lending. The impact of this change was adjusted out of earlier flows.

3. The BBA is the leading UK banking and financial services trade association, representing members from 50 countries on domestic and international issues. Members provide the full range of banking and financial services, operating some 150 million accounts in the UK and making up the world’s largest international banking centre.

4. A note explaining lending terms is available from the BBA website at http://www.bba.org.uk/statistics/article/lending-terminology.

5. The introduction of the revised Standard Industrial Classification (SIC2007) in national statistics was reflected in the banks’ statistical reporting at end-January 2011 and impacts on some of the industry-level data covered by this release, where counterparties have been re-classified between sectors. Where possible, estimates of underlying movements have been made to continue consistent time-series trends.