Bank lending continues to fall

The Bank of England has just published its Trends in Lending report which seems to present nothing but bad news. It says that in the second quarter of 2009 total net lending to businesses fell across all the main industrial sectors.  Gross lending (not allowing for any repayments) fell from £42.9bn in the first quarter of 2009 to £27.3bn in … Continue reading

Posted by Nigel Tree | Comments Off on Bank lending continues to fall

Major losses at State rescued banks

Northern Rock, the nationalised bank, reported losses yesterday which had risen by 24%. The bank was nationalised in February 2008 because it was unable to fund its business in the money markets and customers were defaulting on their loans. It reported a total loss of £724.2m in the first six months of this year, which compared with a loss of … Continue reading

Posted by Nigel Tree | Comments Off on Major losses at State rescued banks