First quarter lending by the U.K.'s 5 largest banks of £16.8B is not of a pace to have them hit...

|By:, SA News Editor

First quarter lending by the U.K.'s 5 largest banks of £16.8B is not of a pace to have them hit a £76B full year target agreed to with the government, the so-called Project Merlin deal. Facing the threat of higher taxes if the goal is not met, banks claim there is muted loan demand.