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High-street lending up 36% on 2001, says BBA

  • 10/02/2003
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The British Bankers' Association (BBA) has released the Major British Banking Group's lending figure...

The British Bankers’ Association (BBA) has released the Major British Banking Group’s lending figures. Accounting for 70% of all lending, the figures found total high-street lending for 2002 was £151bn, up 36% on 2001.

Ian Mullen, BBA chief executive, said: ‘2002 was the strongest year ever for lending, with equity withdraw-al being a significant driving force.’

Net lending, excluding redemptions and remortgaging, rose by £56.4bn. The BBA noted December’s 174,400 loans were 4% down on December 2001, although an average value of £87,600 was 9% higher than 2001.


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