By Claire West
HSBC today reveals it has approved £38.3bn in new loans to UK businesses and mortgage borrowers in the first nine months of 2012, an 11% increase on the same period in 2011.
Antonio Simoes, Head of HSBC in the UK, commented:
"This year we have lent a significant amount to both our business and individual customers, and our market share has continued to grow in a challenging environment.
Our latest figures show that we are already well on our way to surpassing our commitments for the year, with three months still remaining.
We are fully committed to helping the UK economy recover and prosper and we will continue to support our customers through the coming years."
In February HSBC committed to lend at least £15bn to UK mortgage borrowers including £3bn to first-time buyers and £12bn to UK Small and Medium-sized Enterprises (SMEs) including £4bn through the International SME fund which supports UK businesses that trade or aspire to trade internationally.
In July the bank increased the funds it would make available to £17bn for UK mortgage borrowers including £4bn for first-time buyers and £5bn through the International SME fund.