BBA – April 2017 figures for the high street banks
The BBA’s latest high street banking data shows that consumer credit growth was 6.4% in April, compared with 6.1% in the previous month.
Gross mortgage borrowing totalled £13.4bn in April. Net mortgage borrowing was 2.4% higher than a year ago.
Eric Leenders, managing director for retail banking, BBA said:
“As the Spring sunshine picked up in April, so did consumer spending. Annual growth in consumer borrowing from the main high street banks grew due to increased customer use of credit cards. This was also reflected by an uplift in retail sales volumes, particularly among food retailers over the Easter period.
“House purchase approvals were largely in line with last year’s average, though remortgaging approvals have dipped slightly in recent months despite historically low interest rates.
“Business lending in April was fairly flat possibly reflecting the current uncertain climate.”