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Tag Archive: June

  • Banking sector volumes fall as costs increase

    Volumes of business across the UK financial services sector grew in the three months to June, apart from in the banking and securities trading sub-sectors, where volumes fell. Overall growth was at a slower pace than in the last three … Read more »

  • Bank lending to businesses continues to fall

    In its latest Trends in Lending report the Bank of England has revealed that total net lending to businesses fell across all the main industrial sectors during the second quarter of 2009. For smaller firms, without access to the capital … Read more »

  • Drop in commercial lending alarms turnaround specialists

    TMA (UK) is urging UK banks to be more “even-handed” in their business lending. The trade body, which represents UK turnaround and recovery specialists, has made its plea follows the publication of Bank of England figures showing rises in both … Read more »

  • Building Societies report record withdrawals

    The Building Societies Association (BSA) has reported that its members saw net withdrawals of a record £2,239 million in June, compared to net inflows of £419 million during the same period of 2008. While gross mortgage lending was up 30% … Read more »

  • Savers desert NS&I as confidence returns

    Britain’s savers withdrew a net £1 billion from National Savings & Investments (NS&I) in the three months to the end of June, compared with net inflows of £1.1 billion over the same period last year. As the financial crisis gathered … Read more »

  • Personal loan rates nudge up

    Latest research from uSwitch confirms that unsecured lending rates are continuing to rise. The comparison website reports that seven providers hiked rates by 1% for new customers in the past four weeks, taking the average rate to 9.07%. According to … Read more »

  • Nationwide reveal house price rise of 0.9%

    The Nationwide Building Society has indicated that house prices in June rose by 0.9% compared to the previous month. This means that the average home in the UK is now worth £156,442. However, the annual change remains a sharp decline … Read more »

  • CBI survey upbeat on financial services sector

    The Confederation of British Industry (CBI) has published its latest quarterly report which suggests that the UK’s financial services industry is emerging from the worst of the credit crisis downturn. While the sector experienced falls in both income and profitability … Read more »

  • Consumers scale back on unsecured debt

    The Bank of England has published data for June revealing a slowdown in the amount of unsecured debt taken on by consumers. The figures, which cover all forms of consumer credit, show a £0.9 billion rise in unsecured lending. The … Read more »

  • ISA sales fall away as markets slide

    The Investment Management Association (IMA) has published statistics for June showing that net sales of retail funds and Individual Savings Accounts (ISAs) fell to their lowest level since the beginning of the year. Last month, net retail fund sales stood … Read more »

  • Base rate unmoved by rising inflation and contracting services sector

    As the Bank of England’s Monetary Policy Committee begins its monthly review of the base rate, analysts are overwhelmingly pessimistic about the likelihood of a cut. In a poll conducted by Reuters, 69 of the 71 experts questioned said they … Read more »