UK Credit Continues to Rise 28/02/2005

Lending in January increased at well above the monthly average according to new figures from the British Bankers Association (BBA). These new statistics are in line with recent figures release by information specialists Datamonitor showing the average British adult now has borrowing on loans, credit cards and overdrafts in excess of £4000.

The BBA's figures indicate loan borrowing of around £700m in January with credit card lending also up on December at £400m, which was higher than the average for the preceding six months.