CHALLENGER BANK LENDING

A report out last month showed that the ‘so called’ Challenger Banks lent a record £115bn in the 12 months to September 2019. Whilst this was up just 3% on the previous years growth rate of 19%, there were of course wider economic and Brexit related matters during that period, which could have impacted this number.

These banks have proved to be a critical source of funding for many businesses using their nimbler digital systems and with a willingness to lend, but still have a long way to go to break the stranglehold of the big banks.

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