UK credit outstanding: non-financial corporations
UK credit outstanding: non-financial corporations stood at £1,714.01bn in Q1 2026, according to Bank for International Settlements (BIS). It is one of the indicators in the Credit and debt burden table (Value · Quarterly), with a complete series running from Q1 1976 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Credit and debt burden table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Credit outstanding | |||||||||||
| Non-financial corporations | 1,714.01 | 1,755.28 | 1,743.46 | 1,698.56 | 1,712.71 | 1,818.37 | 1,811.76 | 1,796.62 | 1,779.75 | 1,735.02 | |
| General government | 3,101.96 | 3,107.17 | 3,057.63 | 2,996.72 | 2,924.48 | 2,887.04 | 2,843.73 | 2,803.75 | 2,735.77 | 2,720.32 |
Understanding UK credit outstanding: non-financial corporations
The nominal sterling value of all credit obligations owed by non-financial businesses operating in the United Kingdom is tracked in this series in billions of pounds. Qualifying debt includes drawn bank overdrafts, term credit lines, commercial paper, and traded corporate debentures. Financial corporations, government departments, and personal households are omitted. Unlike companion rows reporting percentage shares of output, this figure displays the gross nominal stock of corporate balance sheet liabilities.
A significant share of corporate debt instruments is denominated in foreign currencies, meaning that sterling exchange rate shifts can generate noticeable revaluations in the total without fresh borrowing. Furthermore, marketable corporate bonds are marked to market, creating price variations as interest rates evolve. Comparing figures against the identical quarter of the preceding year provides a cleaner perspective than quarter-on-quarter changes, which are prone to corporate reporting lags and seasonal tax calendar influences.
Frequently asked questions
- How are corporate bonds denominated in foreign currencies treated?
- They are converted into pounds sterling at end-of-period exchange rates, which can alter the series when currency values fluctuate.
- Are trade credit obligations between commercial suppliers counted in this measure?
- Standard trade credit between commercial firms is excluded to maintain focus on formal loan and debt security liabilities.
- Why do revisions happen in historical corporate credit data?
- Revisions occur when corporate entities are reclassified across statistical boundaries or when retrospective balance sheet filings are processed.