HSBC boosts lending by 11%

HSBC insisted it is “fully committed to helping the UK economy recover”, despite its failure to sign up to the Bank of England’s Funding for Lending Scheme (FLS).

The bank said it had boosted lending to mortgage borrowers and businesses by 11% so far this year to £38.3bn (€47.7bn), while it increased its share of the mortgage approvals market to 14.5% from 11.6% last year.