Bank of England says UK bank lending stronger in third quarter
LONDON Dec 2 (Reuters) - The Bank of England said net lending by banks and building societies taking part in its Funding for Lending Scheme was 5.8 billion pounds ($9.5 billion) in the third quarter, more than three times the level of the previous quarter.
Banks have drawn down 23.1 billion pounds of cheap funds from the FLS since it was introduced last year, and net lending has increased by 3.6 billion pounds since June 2012.
The data showed the biggest net lenders in the quarter were Lloyds Banking Group and Nationwide, who increased lending by 3.1 billion pounds and 2.7 billion respectively. Net lending fell at Santander UK, Barclays and the Co-operative Bank.
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