Press releases

1st Feb 2017 Back to top
24th Jan 2017 Back to top
28th Dec 2016 Back to top
  • November 2016 figures for the high street banks

    Dr Rebecca Harding, BBA Chief Economist, said:

    “Consumer credit growth continues to be strong, despite falling back a little in November, reflecting strong retail sales in recent months.

    “The reduction in interest rates in August may have boosted remortgaging approvals, with consumers looking to take advantage of the current economic conditions and lock-in lower interest rates.

    “A corollary of a low interest rate environment is a growth in deposits and we’ve seen personal deposits, in particular, grow more strongly in recent months as consumers hoard cash in the absence of higher-yielding, liquid investment opportunities. This growth in personal deposits may also suggest that consumers are looking to grow their cash reserves against potential economic uncertainties, such as an expectation of lower wage growth.”

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5th Dec 2016 Back to top
30th Nov 2016 Back to top
  • BBA response to the Bank of England 2016 stress test

    Commenting on the results of the Bank of England 2016 stress test, Simon Hills, BBA Executive Director of Prudential Capital and Risk, said:

    “The results of the Bank of England stress test – the most rigorous to date – released this morning confirm that, following steps agreed by some of the banks, the seven financial institutions tested would have sufficient capital to withstand a severe and prolonged global downturn. They are also strong enough to continue to support businesses and consumers throughout a potential future stress.

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24th Nov 2016 Back to top
  • October 2016 figures for the high street banks

    Dr Rebecca Harding, BBA Chief Economist, said:

    “Consumer credit is now growing at its fastest rate since November 2006, reflecting strong retail sales growth. Consumer confidence remains robust as borrowers take advantage of record low interest rates.

    “Mortgage approvals ticked up a little October.  There has only been a relatively modest increase in activity since the Bank of England cut rates in August.

    “Finally, there was a slight increase in business borrowing in October but this was driven by a one-off factor and will probably unwind next month. However, businesses are increasingly going back to capital markets as a means to raise funding. They also continue to hold cash deposits, suggesting that they are building up cash reserves for ready access to resources should the need arise.”

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23rd Nov 2016 Back to top
  • BBA response to the 2016 Autumn Statement

    Commenting on today’s Autumn Statement, Anthony Browne, CEO of the BBA said:

    “We welcome the Chancellor’s efforts to give business greater clarity and certainty in planning and investment for the long term. This is particularly welcome in relation to tax matters.

    “The move to a single major fiscal event a year in the autumn is also welcome, so that any changes to the tax system can be made well in advance of them taking effect.”

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22nd Nov 2016 Back to top
10th Nov 2016 Back to top
  • High street banks to streamline branch closure protocol

    In response to the review Anthony Browne, BBA CEO said:

    “As Professor Griggs recognises, we are in the midst of a consumer-led digital revolution in the way we do our day-to-day banking. However, banks are very aware no customer or business should be left behind and branches play an important role in the life of local communities. That is why decisions to close branches are never taken lightly.

    “It’s encouraging the review found banks have tried hard to use the protocol correctly and approach any closure with the right culture and the correct amount of ‘robustness and rigour’. There is no doubt they will continue to do so.

    “However, there is always room for improvement. In accepting Prof Griggs’ recommendations, the sector has moved swiftly to agree to update the guidelines and in doing so offer even greater support and advice to customers.”

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9th Nov 2016 Back to top