Total loans to UK small and medium-sized enterprises by high street banks have continued to grow this year, hinting at a gradual recovery of business activity following years of weakening support.
The first three months of 2024 saw a 15 per cent quarter-on-quarter increase in lending to SMEs, according to UK Finance’s latest Business Finance Review, with data provided by 11 financial institutions including Barclays, Lloyds Bank, HSBC and the Bank of Ireland.
