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UK Bank Lending To Businesses Contract In May: BoE

Jul 19 2012
By
Forexbrokerz.com

Stock of lending to British businesses contracted in May as loans to small and medium-sized enterprises declined, a report from the Bank of England showed Thursday.

According to the report, titled Trends In Lending, the stock of lending to businesses fell by around GBP 3 billion in the three months to May. The annual rate of growth in the stock of lending to businesses by UK-resident lenders was also negative in the three months to May.

The net monthly flow of lending to business was negative at GBP 1.7 billion in May, compared to GBP 0.4 billion in April. In the three months to May, net inflow was -GBP 2.9 billion compared to -GBP 4.9 billion in the three months to April.

Mortgage approvals by all UK-resident mortgage lenders for house purchase were broadly unchanged in the three months to May. Total net consumer credit flows were positive during the period. Credit card lending flows remained subdued.

The material has been provided by Instaforex Company - instaforex.com
TAGS: UK  Bank  Lending  To  Businesses  Contract  In  May:  BoE   

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