Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc agreed with the UK Treasury to make £105bn (US$156bn) of new loans available to businesses and homebuyers over the next 12 months. RBS, Britain’s biggest government-controlled bank, will provide as much as £50bn in gross business lending, and Lloyds, 41% state-owned, will provide £44bn, the companies said today in separate statements. That compares with £79.7bn of gross lending to businesses last year, the banks said. “We have the capital to make this lending available,” said Philip Hampton, chairman of RBS in a statement. “The right amount of debt for businesses will be greatly influenced by the pace of economic recovery.”
RBS, Lloyds pledge $156bn of new UK business, mortgage loans
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects