RTTNews - Wednesday, data released by the British Bankers' Association showed that high street bank's lending to small businesses rose GBP 153 million in May, much smaller than the GBP 287 million increase in April. The latest lending figure is also smaller than the monthly average increase of GBP 299 million through 2008.
Data was collected for small businesses with an annual bank account turnover of GBP 1 million or less.
Excluding overdrafts, bank lending to small businesses stood at GBP 133 million in May versus GBP 267 million in April.
The term lending amount outstanding in May was GBP 46.34 billion.
Deposits rose GBP 250 million in May, a bigger increase compared to GBP 119 million in April.
BBA statistics director David Dooks, said, The small business sector saw another monthly increase in its borrowing from the high street banks in May, while reduced trading activities and greater control of liquidity were reflected in increased deposits and little changed overdraft levels.
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