Press releases

30th Sep 2015 Back to top
  • BBA response to European Commission Capital Markets Union Action Plan

    Anthony Browne, Chief Executive of the BBA, responded to the European Commission’s Action Plan on building a Capital Markets Union, saying:

    “The UK Banking Sector is strongly supportive of the Commission’s plans to build a Capital Markets Union that works for investors, businesses and, ultimately, consumers across the EU.”

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24th Sep 2015 Back to top
  • August 2015 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “People are putting their money into bricks and mortar while interest rates are low and the timing of a likely rate rise remains uncertain.

    “Mortgage borrowing continues to pick up. The August increase is the largest in five years, although borrowing is still some way below pre-crisis levels.

    “Remortgaging numbers also continue to be strong, as shrewd homeowners snap up competitive deals.”

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21st Sep 2015 Back to top
  • Banks’ tax contribution climbs to £31.3 billion

    • Total tax contribution of the UK banking sector in 2014 estimated as £31.3 billion
    • For the six main UK banks this represents a 55% rise between 2010 and 2014
    • £15.3 billion was paid by UK-headquartered banks and £16 billion by foreign headquartered banks

    New figures published today show that the tax contribution of the UK banking sector climbed to £31.3 billion in 2014.

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10th Sep 2015 Back to top
8th Sep 2015 Back to top
  • BBA comments on Bank of England mortgage lending data

    Commenting on the latest Bank of England’s Mortgage Lenders and Administrators Statistics 2015 Q2, BBA Chief Economist Richard Woolhouse said:

    “The property market is hotting up. These figures show that savvy consumers are rushing to snap up ultra-competitive deals from lenders at a time when mortgage rates have hit record lows.

    “Nearly four-fifths of lending is now on fixed-rate deals. Consumers are increasingly aware of the prospect of an interest rate rise on the horizon and are looking to lock in while they can.

    “It’s interesting that the number of new arrears is also at its lowest on record. This suggests that lenders are ensuring that customers take out loans that they can afford to repay.”

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4th Sep 2015 Back to top
3rd Sep 2015 Back to top
  • BBA responds to latest FLS data

    Commenting on the publication of the Bank of England’s Q2 2015 Funding for Lending Scheme statistics, BBA Executive Director of Business Finance Irene Graham said:

    “These new figures underline that banks are helping smaller businesses do what they do best – drive economic growth and create jobs.

    “Banks are using the Funding for Lending Scheme to lower the cost of borrowing for businesses. This means that lenders are offering a range of highly competitive deals at a time when interest rates are already at a record low.

    “Borrowers should feel confident about applying to their bank for finance. The SME Finance Monitor shows that nearly eight out of 10 businesses that applied for finance in the past 18 months were given the green light.”


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1st Sep 2015 Back to top
  • BBA responds to the latest Bank of England monthly Bankstats

    Commenting on the latest Bank of England monthly Bankstats, BBA Chief Economist Richard Woolhouse said:

    “Net mortgage lending is now back to pre-crisis levels. Together with the surge in mortgage approvals this provides further evidence that the housing market is hotting up.

    “In particular, it seems that shrewd consumers are rushing to remortgage and grab competitive deals before interest rates start to rise from current record lows.

    “The growing demand for unsecured lending also suggests that consumers are increasingly confident about the economic outlook.”

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  • Bank lending to farmers and other rural businesses grows by 24% in just two years

    New industry-wide figures published by the BBA show that bank lending to farms and other rural businesses increased by £1.3 billion last year – the largest rise since records began nearly 15 years ago.

    The amount lent by major retail banks to agricultural businesses in the North and the South East expanded most quickly, both increasing by 15% in 2014.

    However, there was growth in every region of the UK, with rises of 12% in Wales, Scotland and the North West.

    The BBA’s Annual Statistical Abstract shows that loans and overdrafts to agriculture, hunting and forestry businesses grew to £12.4 billion in 2014 – up from £11.1 billion a year before and £10 billion in 2012.

    This means the total volume of borrowing secured by this crucial part of the economy grew by £2.4 billion in two years – a rise of 24%.

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26th Aug 2015 Back to top
  • July 2015 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “These figures show that thousands of us managed to tear ourselves away from the Ashes series to remortgage during July.

    “This was a 29% surge on 12 months before and the highest figure we’ve seen for four years. Savvy homeowners are snapping up competitive deals before an expected increase in interest rates.

    “There were concerns that new regulations had made applying for a mortgage more onerous. But remortgaging is still a straightforward process that can take even less time than Alastair Cook and his men took to beat Australia.”

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