February 2017 figures for the high street banks
The BBA’s latest high street banking data shows that household borrowing of £13.4bn in February was 4.6% higher than in the same month last year.
• The BBA’s latest high street banking data show that consumer credit is growing at an annual rate of 6.6%.
• Gross mortgage borrowing of £13.4bn in February was 4.6% higher than in the same month last year. After allowing for repayments, February’s net mortgage borrowing was 2.5% higher than in February 2016.
• Business borrowing continues to be subdued growing by 0.9% annually.
Eric Leenders, managing director for retail banking, BBA said:
“Elevated approval volumes for house purchases and re-mortgaging experienced during the winter months fell back in February, to average levels seen throughout most of last year. Consumers’ use of credit cards and personal loans reflect last month’s increased spending figures.
“Businesses continue to exercise a cautious approach to borrowing, using cash reserves and alternative lending sources to finance their operations.”
For the full figures click here
