UK banks miss lending targets to SMEs

The UK’s banks missed targets for lending to smaller businesses in 2011 by more than £1bn, according to figures released today.

The five banks – Lloyds Banking Group, Royal Bank of Scotland, Santander, Barclays and HSBC – loaned £74.9 billion to small and medium-sized enterprises (SMEs) in 2011, the British Bankers’ Association said.