UK net lending to all businesses 12-month growth
UK net lending to all businesses 12-month growth stood at 7.4% in Aug 2026, according to Bank of England. It is one of the indicators in the Bank lending table (Value · Monthly), with a complete series running from Apr 2012 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Bank lending table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net lending to all businesses, 12-month growth2 | 7.4 | 7.5 | 8.2 | 7.8 | 9.5 | 8.8 | 7.9 | 7 | 5.8 | 5.4 | |
| Net lending to SMEs, 12-month growth | 4.6 | 4.1 | 4.1 | 4 | 4.3 | 3.7 | 2.9 | 2.5 | 2.3 | 2 | |
| Net lending to large businesses, 12-month growth | 8.9 | 9.4 | 10.5 | 9.9 | 12.3 | 11.7 | 10.6 | 9.5 | 7.8 | 7.3 |
Understanding UK net lending to all businesses 12-month growth
Monetary financial institutions measure the annual percentage change in total outstanding sterling credit owed by all incorporated businesses across the United Kingdom. This twelve-month growth rate compares current debt stocks with the corresponding position twelve months prior, smoothing the acute monthly volatility inherent in raw flow data. The aggregate encompasses both small and large enterprises, capturing overall corporate credit demand while omitting unincorporated sole traders and household accounts.
Evaluating this percentage change requires caution regarding structural breaks from bank reclassifications, mergers, and corporate restructuring events that alter debt stocks without new financing activity. Because twelve-month metrics lag behind turning points in economic activity, analysts should pair this rate with monthly net flow data to detect emerging shifts in corporate borrowing appetite. Comparing this aggregate trajectory against broader monetary aggregates reveals whether corporate credit expansion aligns with wider economic liquidity.
Frequently asked questions
- Why use a twelve-month growth rate instead of monthly changes?
- The annual percentage change eliminates seasonal noise and short-term volatility, revealing underlying credit trends.
- Does this aggregate cover unincorporated businesses?
- No, unincorporated sole traders are generally classified under household or consumer credit frameworks rather than incorporated corporate lending.
- How do structural bank reclassifications affect this series?
- Portfolio sales or corporate reclassifications can create artificial steps in the underlying debt stock, temporarily distorting the annual growth rate.