26th February 2015

Bank support for SMEs – 4th Quarter 2014

Key points:

  • SME cash holdings continue to rise.  Deposit levels are 11% higher year-on-year and now exceed borrowing by more than £54 billion, no doubt playing a part in curbing SME demand for finance.
  • £29.2 billion of new SME borrowing was approved throughout 2014, 9% more than in 2013.  Borrowing demand from medium-sized businesses strengthened in Q4, continuing a recent expansion in their net borrowing.
  • Compared to previous quarters, approved borrowing overall was lower in the final quarter, although it remained broadly‑based across industry sectors and geographic regions.

Please read our full statistics release and excel tables via the links below.