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Small Business lending up in the third quarter


21 November 2008


Over the twelve months to September:

• Loans grew 10% to £44.8bn, while overdraft borrowing stood at £9.3bn, some 4% higher than a year earlier.

• Total deposits totalled £55.0bn, 3% up on the year.

• New banking relationships have been established for 538,300 small businesses.

BBA statistics director, David Dooks, said:

“The effects of the deteriorating economy are becoming more apparent. Slowing growth in deposits shows that small businesses

are increasingly funding their activities out of cashflow, but a rise in lending in the third quarter, consistent with growth in

the previous quarter and the corresponding quarter of 2007, shows banks continuing to make finance available.”