Bloomberg News

British Banks Cut Lending to France in Third Quarter, BoE Says

December 16, 2011

Dec. 16 (Bloomberg) -- British banks reduced lending to French borrowers by $29.3 billion over the third quarter as they increased lending to Germany by $40 billion, according to data released by the Bank of England.

British banks cut their overseas loans by $62.4 billion during the quarter to $4.1 trillion, the central bank said in a statement today. The largest decrease was to emerging economies including Brazil and Korea, the Bank of England said.

To contact the reporter on this story: Jennifer Ryan in London at jryan13@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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