Net lending by U.K. banks fell in each quarter in 2011, according to the BoE's Project Merlin...

|By:, SA News Editor

Net lending by U.K. banks fell in each quarter in 2011, according to the BoE's Project Merlin report, though gross lending (£214.9B) exceeded the government's target of £190B. Lending to small and medium-sized businesses hit £74.9B, short of the government target of £76B.