BBA produces snapshot of activity

by Gill Montia

Story link: BBA produces snapshot of activity

The British Bankers’ Association (BBA) has come up with some interesting figures alongside it Annual Abstract of Banking Statistics for 2009, published yesterday.

According to the body, in every 10 minutes of every day of the year, 35,000 people used the Internet to check their bank account balance or statement online and 10 people opened a basic bank account, accessible via a bank or Post Office branch.

During the same time slot, 48,000 visits were made to bank ATMs where people withdraw over £3.2 million in cash, while clearing systems processed 18,000 cheques, 107,000 automated payments and 151,000 plastic card payments.

Reassuringly banks earned £591,000 every ten minutes for the UK’s balance of payments, in 2009.

However, according to a report in The Daily Telegraph, the statistics contained in the Annual Abstract show that the UK’s banks lent just £900 million in new money to small businesses last year, less than a quarter of the average annual amount for the past five years.

Quoting BBA director, David Dooks, the newspaper reports that the numbers reflect “a reduction in demand for credit”.