New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business held steady in August, and grew by 1% in the twelve months to August, compared with the same period last year.

Retail store and online credit new business in August was at a similar level to the same month in 2018, while new business provided through credit cards and personal loans together fell by 1%.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said

“Consumer finance new business fell by 1% in the eight months to August, in line with expectations.

 “We continue to expect this market to report broadly stable new business in 2019 as a whole compared with 2018.”

 Table 1: New consumer credit lending

 Note to editors: 

1. FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
2. In 2018, FLA members provided £136 billion of new finance to UK businesses and households. £103 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2018.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.