Banks miss Project Merlin SME lending targets

The Bank of England has confirmed that the UK's five main banks missed their Project Merlin targets for lending to small businesses in 2011.

As previously highlighted on AccountingWEB, the official assessment of Project Merlin confirms that total net lending from the biggest banks fell in every quarter of the last year. The BoE figures show that the five banks met their gross targets - however, falling £1.1bn short of the £76bn target.

The figures broken down by bank are: 

Continued...

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Comments
Paul Scholes's picture

So what can we do?

Paul Scholes | | Permalink

If the banks don't need our money why not put it somewhere where it will do some good, eg here or here or even here?