Press releases

2015 likely to see recovery in corporate borrowing

6 January 2015

Commenting on the latest Bank of England Credit Conditions Survey, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“Credit conditions for large and medium sized businesses are continuing to improve and banks report growing demand for credit from companies driven by M&A activity, commercial real estate and investment spending.

“This is consistent with our latest survey of chief financial officers, who start 2015 with risk appetite above the long-term average and predicting a strong year for business investment.

“The weak spot is the small firm sector which has seen a downturn in credit availability and demand in the last quarter.

“But with UK interest rates likely to stay lower for longer, monetary conditions are set to remain easy for some time to come. After declining for more than five years, 2015 is likely to be the year in which corporate borrowing finally starts to recover.”

End

Notes to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited

Mark Smith
Deloitte LLP
+44 (0)20 7007 7082
+44 (0)75 9004 1301
marksmith@deloitte.co.uk

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