•   News
  •   Social
  •   Market
  • News
  • Bitcoin
  • Cryptocurrency
  • Ethereum
  • Altcoins
  • Blockchain
  • Social
  • Bitcoin Regulation
  • ICO
  • Bitcoin Cash
CoinPath
  •   News
  •   Social
  •   Market
  • Contact
  • Facebook

  • Twitter

  • Pinterest

  • Instagram

  • LinkedIn

  • RSS


Home » Economics »


Bad Loans at Big British Banks Jump Over 50% in a Year

Bad Loans at Big British Banks Jump Over 50% in a Year

Bad Loans at Big British Banks Jump Over 50% in a Year

Shaken by the never-ending saga around Brexit and the global slowdown, the British economy is now showing signs that point to an upcoming crisis. The U.K.’s biggest banks have been dealing with a growing number of loans companies are struggling to pay off. At the same time, low interest rates on mortgages are limiting opportunities for revenue growth.

Also read: Another Chinese Lender Bailed Out After Bank Run

Largest Lenders Write Off More Debt Than a Year Ago

The United Kingdom’s largest lenders have been writing off more loans than they were last year, another indication that many businesses are hurting in a deteriorating economic environment. In Q3 of 2019, writedowns on bad debt at four major British banks increased 51% from the same quarter of 2018, the Daily Mail reported quoting corporate figures.

The amount of nonperforming loans that have been written off by RBS, Lloyds, HSBC, and Barclays between July and September reached £1.76 billion (approx. $2.27 billion). During the same period last year it was around £1.17 billion ($1.51 billion), an analysis conducted by U.K.-based financial services company AJ Bell shows.

Bad Loans at Big British Banks Jump Over 50% in a Year

The difference of almost £600 billion has been attributed to the worsening economic conditions that are negatively affecting more and more companies operating in the country. One such example is the British global travel group Thomas Cook which collapsed in September.

A total of 4,355 businesses were unable to pay their debts in the third quarter, according to official data from the U.K. government’s Insolvency Service. That’s the highest number in five years recorded by the London-headquartered executive agency of the Department for Business, Energy and Industrial Strategy.

Low Interest Rates to Further Squeeze Bank Revenues

Bad loans are not the only challenge the United Kingdom’s top lenders are currently facing.

 » Read Full Article «

Bitcoin.com
Bitcoin.com
November 4, 2019
Related ItemsEconomics
Economics
November 4, 2019
Bitcoin.com
Bitcoin.com

Related ItemsEconomics

More in Economics

  • ecb-nominee-blames-resistance-to-negative-rates-on-financial-illiteracy
    Read More
    ECB Nominee Blames Resistance to Negative Rates on Financial Illiteracy

    European Central Bank (ECB) executive board nominee and member of the German Council of Economic Experts, Isabel...

    Bitcoin.com December 6, 2019
  • the-fed’s-money-creation-system-is-fueling-one-of-the-biggest-heists-in-history
    Read More
    The Fed’s Money Creation System Is Fueling One of the Biggest Heists in History

    Since mid-September, the Federal Reserve has injected three trillion U.S. dollars into the hands of private banks...

    Bitcoin.com December 5, 2019
  • ‘in-small-steps’-china-cuts-benchmark-interest-rates
    Read More
    ‘In Small Steps’ China Cuts Benchmark Interest Rates

    Careful not to rush too much with stimulus, the Chinese government nevertheless realizes that its behemoth economy...

    Bitcoin.com December 2, 2019
  • bank-of-japan-studying-digital-currencies,-says-governor
    Read More
    Bank of Japan Studying Digital Currencies, Says Governor

    '); --> Bank of Japan Studying Digital Currencies, Says Governor | BTCMANAGER Bitcoin, Blockchain & Cryptocurrency News...

    BTC Manager November 20, 2019
Scroll for more
Tap
CoinPath
  • Popular

  • Latest

  • anonymity-in-china’s-crypto-yuan-is-bad-news-for-us-lawmakers
    Anonymity in China’s Crypto Yuan is Bad News for US Lawmakers
    ChinaNovember 13, 2019
  • planb:-$1,000,000-btc-prediction-on-track-despite-crypto-‘panic’-–-bitcoin,-xrp,-ethereum-newsflash
    PlanB: $1,000,000 BTC Prediction on Track Despite Crypto ‘Panic’ – Bitcoin, XRP, Ethereum Newsflash
    BitcoinNovember 23, 2019
  • karatbars-proves-its-business-model
    Karatbars Proves Its Business Model
    BlockchainNovember 15, 2019
  • pewdiepie-wants-a-tesla-cybertruck-because-it’s-basically-a-halo-warthog
    PewDiePie Wants a Tesla Cybertruck Because It’s Basically a Halo Warthog
    Elon MuskNovember 23, 2019
  • crypto-exchange-news-update-for-1–30-november-2019
    Crypto Exchange News Update for 1–30 November 2019
    ExchangesDecember 2, 2019
  • crypto-developer’s-arrest-for-aiding-north-korea-echoes-eerily-prophetic-2008-nyt-profile
    Crypto Developer’s Arrest for Aiding North Korea Echoes Eerily Prophetic 2008 NYT Profile
    cryptocurrency newsNovember 30, 2019
  • hideo-kojima-thinks-americans-are-too-dense-to-understand-death-stranding
    Hideo Kojima Thinks Americans Are Too Dense to Understand Death Stranding
    Death StrandingNovember 12, 2019
  • the-pot-stock-crash-will-dent-bitcoin-price,-claims-peter-schiff
    The Pot Stock Crash Will Dent Bitcoin Price, Claims Peter Schiff
    BitcoinNovember 18, 2019
  • from-fud-to-fomo-–-china-state-newspaper-says-bitcoin-is-‘successful’
    From FUD to FOMO – China State Newspaper Says Bitcoin Is ‘Successful’
    NewsNovember 12, 2019
  • was-upbit-hack-an-attempt-to-evade-taxes?
    Was Upbit Hack An Attempt To Evade Taxes?
    Altcoin NewsNovember 28, 2019
  • bakkt’s-bitcoin-options,-cash-settled-futures-contracts-are-now-live
    Bakkt’s Bitcoin Options, Cash-Settled Futures Contracts are now Live
    bakktDecember 10, 2019
  • treasury-yields-dip-ahead-of-make-or-break-week-for-wall-street
    Treasury Yields Dip Ahead of Make-or-Break Week for Wall Street
    federal reserveDecember 10, 2019
  • you’ve-really-got-love-lol-to-buy-the-latest-louis-vuitton-collection
    You’ve Really Got Love LoL to Buy the Latest Louis Vuitton Collection
    gamingDecember 10, 2019
  • new-mac-malware-hides-in-memory-and-masquerades-as-a-crypto-app
    New Mac Malware Hides in Memory and Masquerades as a Crypto App
    MalwareDecember 10, 2019
  • btse-exchange-plans-$50m-token-raise-on-blockstream’s-ethereum-rival-liquid
    BTSE Exchange Plans $50M Token Raise on Blockstream’s Ethereum Rival Liquid
    BlockstreamDecember 10, 2019
  • dow-stumbles-as-boeing-(ba)-&-apple-(aapl)-stock-suffer-setbacks
    Dow Stumbles as Boeing (BA) & Apple (AAPL) Stock Suffer Setbacks
    Donald TrumpDecember 10, 2019
  • ledgerx-places-founders-on-administrative-leave-after-tussle-with-cftc
    LedgerX Places Founders on Administrative Leave After Tussle With CFTC
    DTCCDecember 10, 2019
  • what-the-patriots’-rare-loss-to-the-chiefs-proves-about-the-afc-playoff-race
    What the Patriots’ Rare Loss to the Chiefs Proves About the AFC Playoff Race
    baltimore ravensDecember 10, 2019
  • minecraft-cross-play-finally-comes-to-ps4-–-this-is-why-it-took-so-long
    Minecraft Cross-Play Finally Comes to PS4 – This Is Why It Took So Long
    gamingDecember 10, 2019
  • leading-cryptocurrency-exchange-okex-to-launch-options-trading-later-this-month
    Leading Cryptocurrency Exchange OKEx to Launch Options Trading Later this Month
    AltcoinsDecember 10, 2019
    Sqreen | Runtime Application Protection
    About - Terms - Privacy - Disclaimer - Verification - Contact

    © 2019 CoinPath Pty Ltd
    Made with in Australia

    Andrew Yang’s ‘Freedom Dividend’ Is Not Only Unnecessary, It’s Unethical
    Crypto Secularizes Wealth by Returning Power to the People