Regional SME lending landscape revealed
New figures from the British Bankers’ Association (BBA) provide a snapshot of SME borrowing and saving across the UK.
The data, presented on a post-code basis, show that the majority of regions are net depositors – SMEs in London, the South East, East Midlands, the East of England, Yorkshire & Humberside, the North East, the North West and Scotland have more on deposit than they are borrowing.
However, in all regions outside London, the South East and the East of England, bank finance to SMEs is greater as a proportion of total lending than their regional share of SME turnover.
For example, the South West accounts for 5% of SME business activity in the UK but receives 11% of SME lending.
BBA chief executive, Anthony Browne, comments: “These figures show that from Aberdeen right down to Truro the UK’s banks are putting over £100 billion into the engine room of the economy, the SME sector.”