According to Ernst and Young’s Barometer survey, senior British bankers are optimistic about bank lending and good economic conditions in 2014 (76% in comparison to a Europe-wide figure of 56%). After the US, the UK was predicted the highest an upturn in business lending in 2014.
Despite the Bank reporting a record £4.7 billion contraction in net business lending in November, senior bankers are upbeat about business funding this quarter. Omar Ali, head of UK banking and capital markets at EY, said: “As the wider economic recovery continues to gain pace, banks are more confident to lend to both consumers and companies alike.
After years of tight credit restrictions, banks are now able to be more bullish in their attitudes towards lending.”
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