HSBC reveals strong lending figures for UK personal and business customers
Posted on 05 Nov 2012
HSBC today reveals it has approved £38.3bn in new loans to UK businesses and mortgage borrowers in the first nine months of 2012, an 11% increase on the same period in 2011.
HSBC in the UK lending highlights for January - September 2012:
- Approved £15.6bn to UK mortgage borrowers , a 22% increase on 2011 (£12.9bn); increased total funds available to at least £17bn
- Approved £4bn to UK first-time buyers, 33% increase on 2011 (£3bn) with the appetite to continue lending more in Q4
- Helped 140,000 borrowers including 33,000 FTBs - lending to 120 FTBs per day*
- Approved 4 in 5 FTB mortgage applications
- New UK mortgage approvals market share of 14.5%, up from 11.6% in 2011
- Provided £22.7bn of gross new lending to UK businesses, an increase of 5% on the same period in 2011
- £9.5bn of gross new lending has been provided to SMEs, a 10% year on year increase
- Approved all £4bn of the International SME Fund and made a further £1bn available
- Approved more than 8 in 10 small business loan applications
Antonio Simoes, Head of HSBC in the UK, commented:
"This year we have lent a significant amount to both our business and individual customers, and our market share has continued to grow in a challenging environment. Our latest figures show that we are already well on our way to surpassing our commitments for the year, with three months still remaining. We are fully committed to helping the UK economy recover and prosper and we will continue to support our customers through the coming years."
In February HSBC committed to lend at least £15bn to UK mortgage borrowers including £3bn to first-time buyers and £12bn to UK Small and Medium-sized Enterprises (SMEs) including £4bn through the International SME fund which supports UK businesses that trade or aspire to trade internationally. In July the bank increased the funds it would make available to £17bn for UK mortgage borrowers including £4bn for first-time buyers and £5bn through the International SME fund.
- Ends -
Notes to editors:
*Based on lending 7 days a week for 39 weeks (Jan - September 2012)
For further information please contact HSBC UK Communications: