May 2017 figures for the high street banks
The BBA’s latest data from the high street banks shows that consumer credit growth was 5.1% in May, compared with 6.4% in the previous month.
Gross mortgage borrowing totalled £13.3bn in May. Net mortgage borrowing was 2.4% higher than a year ago.
Eric Leenders, BBA managing director for Retail Banking said:
“This month’s figures show that in the run up to the General Election, credit growth in personal loans, cards and overdrafts has slowed, which was reflected in lower spending; with increased household costs affecting growth in deposits and saving.
“Businesses appear to be weighing up their options before raising finance to fund projects or developments. After a long period of subdued company borrowing, overall growth is starting to stabilise at a modest rate.”
For the full figures, click here