Press releases

1st Nov 2016 Back to top
26th Oct 2016 Back to top
  • September 2016 figures for the high street banks

    Dr Rebecca Harding, BBA Chief Economist, said:

    “Consumer credit is growing at its fastest rate since December 2006, driven by strong demand for personal loans and credit cards. Consumers are increasingly using short-term borrowing to take advantage of record low interest rates. This trend has accelerated since the Bank of England cut rates in August.

    “Mortgage approvals picked up slightly this month but the housing market continues to shows signs of underlying weakness. Both house purchase and remortgaging approvals are down on the corresponding figures for 2015.

    “Business borrowing decreased slightly again in September, which may be in part down to uncertainty following the EU referendum. There is a longer time lag behind corporate investment decisions so it may take longer for the effect of the interest rate cut to filter through to such borrowing.”

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10th Oct 2016 Back to top
  • Record rise in bank lending to farmers

    Commenting on the figures, BBA CEO Anthony Browne said:

    “Bankers and farmers could not be more different in the eyes of most people. The two sectors are typically located in separate parts of the country and play very different roles in the economy.”

    “It’s important to recognise, however, that both sectors share a mutually beneficial relationship. The fresh produce that people buy in shops or get delivered to their doorstep is not only grown by farmers, it is funded by banks. 

    “In the face of volatile commodity prices, banks are supporting farmers in these tough times. It is vital that farmers can secure the finance that they need to invest in crops, machinery or livestock. These figures show that banks are providing this lending at record levels.

    “With interest rates at an historic low, there has rarely been a better time for businesses of all sectors to borrow.”

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26th Sep 2016 Back to top
23rd Sep 2016 Back to top
9th Aug 2016 Back to top
  • BBA response to the CMA final report

    Commenting on the final findings of the CMA investigation into the supply of personal current accounts (PCAs) and of banking services to small and medium-sized enterprises (SMEs), chief executive of the BBA Anthony Browne said:

    “Banks compete to attract and retain customers every day. They are also focused on giving their customers the best outcome for the services they provide. The CMA’s final recommendations will further help consumers with a package of measures which give individuals and businesses greater power to pick the products that are best for their needs.

    “Customers and businesses have already found digital banking hugely convenient and have taken advantage of mobile technology that is allowing us to bank round the clock. We are pleased the CMA has reflected that in its recommendations.

    “However, we recognise more work needs to be done to create a level playing field by supporting new banks wanting to set up business, as well as helping to grow established banks.”

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4th Aug 2016 Back to top
  • BBA statement on BoE decision to cut interest rate

    Dr Rebecca Harding, BBA chief economist, said:
    “The decision to cut interest rates and increase quantitative easing sends a clear signal that the Bank of England is taking a ‘whatever it takes’ approach to stabilising the economy. Weak post-Brexit data is creating a perception that the economy is likely to slow and the decision to reduce rates has been made on the basis of a perception of risk.

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26th Jul 2016 Back to top
  • June 2016 figures for the high street banks

    Dr Rebecca Harding, BBA Chief Economist, said:

    “This month’s High Street Banking data reflects the uncertainty that was felt ahead of the EU referendum.

    “Business borrowing in June dropped for the first time in 2016, signalling that investment decisions were being delayed until after the vote.

    “Mortgage lending and approvals also fell back in June but remain above the low levels seen in April following the introduction of the stamp duty surcharge.”

    “Overall, business confidence was clearly fragile in anticipation of the outcome of the vote, but these results are not a verdict on the health of the economy post-Brexit. We won’t start to see that data come through until the autumn and any trends before then should not be over-interpreted”

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22nd Jul 2016 Back to top
12th Jul 2016 Back to top