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October 2011 figures for the main high street banks
23/11/2011
Annual growth of the banks' net mortgage lending was 1.5% in excess of the growth of 0.6% in September for overall mortgage lending.
BBA statistics director, David Dooks said:
"The mortgage market, where the high street banks provide around 70% of new lending, remains subdued and demand for unsecured borrowing is slow, reflecting householders’ caution in the current economic environment.”
“Property-related companies and hotels & restaurants were the last industrial sectors to cut back their borrowing throughout 2009 and 2010 and there may be signs of those sectors emerging first. The level of borrowing by hotels & restaurants is now higher than it was a year ago.”
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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.
