27th December 2012

November 2012 figures for the main high street banks

Cash ISA inflows continue to be strong this year as households have sought accounts paying better rates of interest, leading to a rise in all personal deposits of 6.3% over the year to November.

Cash ISA inflows continue to be strong this year as households have sought accounts paying better rates of interest, leading to a rise in all personal deposits of 6.3% over the year to November.

BBA statistics director, David Dooks said:

“November saw new mortgage borrowing of £7.7 billion and personal loans of £1.1 billion, with monthly credit card spending higher at £7.3 billion, resulting from above average transaction volumes.  Households are, however, continuing to repay virtually as much as they borrow and, as people hold onto cash, deposits are growing by 6% annually.

“The situation is not dissimilar in the business world – businesses are holding back investment or expansion plans and building up cash reserves”.

stats271212

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Notes to editors