U.K. Banks Provided 214.9 Billion Pounds of Loans, BBA Says
February 11, 2012, 12:32 PM ESTBy Jon Menon
Feb. 10 (Bloomberg) -- The U.K. five-biggest consumer banks, said they met their commitments to government to boost lending businesses.
The banks provided 214.9 billion pounds in gross new lending, meeting the so-called Merlin agreement, according to the industry’s lobby group.
The banks, including HSBC Holdings Plc, Lloyds Banking Group Plc and Santander U.K. provided 74.9 billion pounds of loans to small and medium-sized companies under the so-called Project Merlin agreement with the U.K. government, the British Bankers’ Association said in a statement today.
To contact the editor responsible for this story: Jon Menon at jmenon1@bloomberg.net
