Challenger banks suffer a collapse in lending growth3 Feb 2020 14:02
https://www.telegraph.co.uk/business/2020/02/03/challenger-banks-suffer-collapse-lending-growth/
Challenger banks extended a record £115bn in credit to consumers and businesses in the 12 months to September 2019, the latest period for which figures are available, more than double the value of lending five years ago.
Despite the record level of lending, growth in borrowing from challengers slowed to just 3pc year-on-year, the smallest increase in six years and less than one-sixth of the 19pc rise in lending a year earlier. The figures were compiled by accounting and consultancy firm BDO based on numbers published by 19 institutions.
Uncertainty created by the UK’s protracted exit from the EU dampened demand for credit from small and medium enterprises over the past 12 months, one banking analyst said. This was likely to have continued in the run up to the general election in December, he added....