Sector Regulation Sector Regulation

UK banks dominate Covid lending, risking market distortion, says audit watchdog

By Fiona Maxwell
  • 07 Oct 2020 07:40
  • 07 Oct 2020 07:40
The UK’s five largest banks have handled the lion’s share of a fully state-backed loan program to alleviate Covid-19's economic hit, a situation that risks creating an uncompetitive landscape, a public-spending watchdog has warned.

Barclays, HSBC, Lloyds, NatWest and Santander have so far provided around 31 billion pounds ($40 billion) under the Bounce

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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