Banks commit to 15% increase in lending to SMEs
The Government has welcomed a commitment by the UK's biggest banks on lending expectations and capacity which will focus on small to medium-sized enterprises (SME).
The statement by Barclays, HSBC, Lloyds Banking Group, RBS and, with respect to lending, Santander, follows a period of discussion between the Government and the banks, known as Project Merlin.
The banks have stated a capacity and willingness to make available £190bn of new credit to business in 2011, up from £179bn actual lending in 2010. If demand exceeds this, the banks have indicated they will lend more.
Approximately £76bn of this new lending capacity will be to SME, a 15% increase on the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop