Those with banking jobs in London commended for lending initiative

Financial institutions across the UK have been commended for taking a proactive stance on lending activity.

People with banking jobs in London may be encouraged to hear that David Black, specialist in the sector at data research company Defaqto, claimed a recent initiative revealed by the British Bankers' Association (BBA) should be applauded.

According to the BBA, high-street bank leaders will be guiding a number of work streams in order to assess barriers to borrowing, as well as highlighting ways in which this can be addressed.

Mr Black said: "Anything the banks are seen to be doing to improve lending and the availability of finance to small businesses is clearly good news."

However, he admitted the "proof will be in the pudding" for the scheme, adding many enterprises may still complain they are not able to access funding or that they are being charged too much on the loans they secure.