LONDON (AFX) - Total sterling lending by major British banks to the UK private sector rose by a seasonally adjusted 6.237 bln stg in April compared with a revised 5.486 bln stg rise the previous month, according to figures released by the British Bankers' Association.
The BBA said total borrowing by private individuals rose by 3.484 bln stg in April, a monthly record that was some 13 pct above the previous peak of 3.091 bln in June 2000. Of this, credit card borrowing rose by 255 mln stg, the biggest surge since May 2000 and compared with last month's fall of 263 mln.
Mortgage lending rose 2.556 bln stg in April, compared with an underlying rise of 2.170 bln in March.
Lending to financial companies rose 1.113 bln stg, while lending by securities dealers was up 197 mln stg.
On the liabilities side of banks' balance sheets, individuals' deposits rose in February by 3.848 bln stg, against March's 4.694 bln stg rise. Commenting on the figures, BBA director-general, Tim Sweeney said stronger lending by the major banks was symptomatic of the conflicting trends within the economy at present.