HSBC says consumer borrowing is slowing
‘HSBC today became the second major UK bank in as many days to point to a slowdown in consumer borrowing.
Britain’s biggest bank by market value said it was starting to see “some evidence of weaker consumer credit experience” in the domestic market following five interest rises since November last year.
Yesterday, Edinburgh-based Royal Bank of Scotland said there had been signs of easing in the growth rate of unsecured lending, and more recently in mortgages, in the second half of its financial year.
HSBC said that despite the weakening UK consumer lending, it remained able to cover its credit costs with related margins.’
Read more at HSBC says consumer borrowing is slowing
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