Banks report rise in personal deposits

17 June 2009

The latest banking figures from the British Bankers` Association (BBA) have shown an increase in personal deposits by consumers, but net mortgage lending has fallen to its lowest level in eight years.

In April, net personal deposits amounted to +£1.8bn, according to the BBA, up from +£0.7bn in March.

Meanwhile, banks reported total net mortgage lending of +£2.7bn, down from +£3.4bn the month before.

BBA statistics director David Dooks said: "The house purchase part of the mortgage market appears to have stabilised, with slightly more approvals coming through, although April`s weak net mortgage lending reflects the lower number of approvals in previous months.

"Households` uncertain financial circumstances not surprisingly continue to dictate consumer behaviour, both in the housing market and in generating only low demand for new personal loans."

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