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British banks reduce number of consumer loans due to Brexit

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British banks reduce number of consumer loans due to Brexit

Over the course of the next three months, the majority of British banks plan to slow down the rates of consumer loans issue due to Brexit, as it follows from a report of Bank of England on the condition of credit market published on Thursday.


This phenomenon has been observed for the first time since a 2018 financial crisis, it says. According to the report’s data, based on a research conducted in the period of between the 20th of February and the 10th of March, in the first quarter of this year, the banks revised their plans over issue of unsecured credits. As a result of it, a credit affordability index regarding consumer loans has declined by 6,6%.

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