Press releases

26th Apr 2016 Back to top
  • March 2016 figures for the high street banks

    Dr Rebecca Harding, Chief Economic Advisor at the BBA, said:

    “A surge in buy-to-let and second home buying ahead of the new stamp duty surcharge in April led to a sharp rise in March’s gross mortgage borrowing as people brought transactions forward.

    “For households more widely, consumer credit continues to grow above real earnings growth, as improving consumer confidence and low interest rates combine to stimulate borrowing demand for personal loans, cards and overdrafts.

    “Business borrowing is moderating within distribution, manufacturing, food and accommodation sectors, as large corporates use capital markets for their funding and both large and small businesses continue to build up deposits”.

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30th Mar 2016 Back to top
24th Mar 2016 Back to top
  • UK banking sector believes Brexit would have “negative impact” on their business

    According to a survey by the BBA, a majority of member banks based in the UK which responded believe their business would suffer a “negative impact” if the UK left the European Union.

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  • February 2016 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “Mortgage borrowing remained buoyant in February. It appears that borrowers are continuing to try to get ahead of the increases in stamp duty for buy-to-let and second home buyers scheduled to come into effect next month.

    “Consumer confidence is also robust. Households are increasingly taking advantage of low interest rates by taking on more unsecured borrowing.”

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22nd Mar 2016 Back to top
  • BBA comments on Gadhia women in finance review

    Commenting on the publication of a review of women in finance, led by the Virgin Money Chief Executive Jayne-Anne Gadhia, the BBA’s Chief Executive Anthony Browne said:

    “The banking industry has made important progress in improving female representation at all levels in recent years.

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16th Mar 2016 Back to top
  • BBA comment on Budget 2016

    Commenting on today’s Budget, BBA CEO Anthony Browne said:

    On savings:

    “The banking industry has long encouraged people to put money away for a rainy day and for retirement. The new Lifetime Isa and Help to Save scheme both have the potential to shape the habits of the next generation of savers. Early and ongoing consultation with the industry will be critical to their successful introduction and we look forward to working with the Treasury over the coming months.”

    On CMCs:

    “The BBA welcomes the clampdown on rogue claims management companies (CMCs) and placing them under the supervision of the FCA is the right thing to do to stamp out bad practice.”

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14th Mar 2016 Back to top
  • Commenting on the publication of the Financial Advice Market Review (FAMR)

    Anthony Browne, Chief Executive of the BBA, said:

    “Consumers increasingly want access to advice and guidance when making big financial decisions, such as handling their pension. This review will help make it easier for banks to offer customers the help they need so they can take informed decisions and better manage their money.”

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24th Feb 2016 Back to top
  • January 2016 figures for the high street banks

    Richard Woolhouse, Chief Economist at the BBA, said:

    “The start of the year has seen a significant rise in mortgage borrowing. It seems that this has been driven, in part, by borrowers looking to get ahead of the increases in stamp duty for buy-to-let and second home buyers scheduled to come into effect in April.

    “Net lending to non-financial companies saw the biggest monthly jump since July 2008 as businesses take advantage of record low interest rates. Demand from the transport, storage and communication and construction sectors was particularly strong.”

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23rd Feb 2016 Back to top
14th Feb 2016 Back to top
  • BBA comment on HSBC’s decision to remain domiciled in the UK

    Commenting on HSBC’s decision to remain domiciled in the UK, Anthony Browne, BBA Chief Executive said:

    “This decision is a big vote of confidence in the UK, and reflects the goverment’s decision to ensure the UK remains competitive as a global banking centre.

    Banking is an internationally mobile industry and as our recent report on competitiveness showed, a number of push and pull factors are weighing heavily in boardrooms across the sector.

    We cannot afford to be complacent about the contribution banking makes to the British economy, a sector that employs over half a million people, with two thirds of those jobs based outside of London.”

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