BBA figures show further rise in lending

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The latest British Bankers Association (BBA) statistics show that the high street banks’ lending to small businesses increased by £211 million in February, similar to the rise recorded in January.

There was little change in deposits, while over 44,000 new small businesses banking relationships were established.

Commenting on the data, BBA statistics director, David Dooks, said: “Lending to the 3.8 million small businesses supported by the main high street banks rose again in February and significant numbers of new small business relationships continue to be established, despite the current recession and regular reports of difficult business conditions. Deposit balances are little changed, reflecting the slow trading environment many businesses are facing.”