Published today, the British Business Bank’s Small Business Finance Markets 2022/23 report shows £35.5bn of bank lending came from challenger and specialist banks in 2022. This exceeded lending by the major banks during the period, giving challenger and specialist banks a 55% share of the market
Gross bank lending increased by 12.8% in 2022, however, net lending fell by £8.5bn in large part reflecting repayment of Covid loans.