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Bank charges: RBS claim businesses are not borrowing

Stephen Hester, chief executive for the Royal Bank of Scotland (RBS), has said that the bank is desperate to lend but that nobody wants to borrow.

In an interview with the Sunday Times, he claimed businesses are too concerned with economic pressures to borrow the £20 billion the bank has set aside for loans.

While the major bank is one of many that has been told to increase lending to businesses as a means to alleviate the economy, Mr Hester stressed that “we are lending as much as we can” and that “we are not constrained by either capital or funding.”

However, this claim goes against evidence from a government think tank last month that showed the problem for small to medium-sized enterprises (SMEs) in gaining capital is banks are refusing to lend.

Results from the National Institute of Social and Economic Research shows that rejections for business loans were higher between 2011 and 2012 than they were during the financial crisis in 2008 to 2009.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801581791-ADNFCR

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