HIGH street banks reduced lending to non-financial companies by another £1.5 billion in August in spite of the launch of the Bank of England-backed Funding for Lending Scheme during the month.
HIGH street banks reduced lending to non-financial companies by another £1.5 billion in August in spite of the launch of the Bank of England-backed Funding for Lending Scheme during the month.
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MARK WILLIAMSON
Figures produced by the British Bankers' Association (BBA) suggest there was no improvement in funding markets last month when non-financial companies continued to repay much more than they borrowed from leading banks.
The net repayment in August compares with an average £1.6bn in the preceding six months. It means the firms ministers are hoping will help make the UK less reliant on financial services have now made net repayments to banks of around £10bn in the last seven months.
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