Continued Growth in Banks Services for Small Business

Lending to small businesses rose by Ј1.4 billion (+3.6%) in the first quarter of 2001. This was higher than the previous quarter's rise due to increased overdraft borrowing and brought total lending to Ј40.3 billion at the end of March 2001. Virtually all of the increase in term lending was at variable rates. The first quarter say little change in the total number of current and deposit accounts for small businesses, although there was a small migration from deposit accounts into current accounts. Deposit levels remained unchanged at Ј41.3 billion.