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BBA figures show rise in bank lending

Published Friday, May 1st, 2009   

Posted by Nick Eyriey
Editorial director Nick Eyriey is an experienced and respected journalist having spent some 20 years in the local and national press working with newspapers such as The Yorkshire Post, Today, The Sun, and the Mail on Sunday.

The level of high street banks’ lending to small businesses rose by £271 million in March, new figures from the BBA showed today.

Deposits by small businesses increased by £881 million and there were over 52,000 new small businesses banking relationships established in the month.

Commenting on the data, BBA statistics director, David Dooks, said: “The stock of lending to small businesses is around 5% higher than a year ago and has risen in each of the first three months of 2009, reflecting general banking support and individual bank pledges to make finance available.  March also saw an upturn in the number of new small business relationships, bringing the total in the first quarter up to a figure similar to 2008 Q1, despite the more difficult current trading environment.”

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