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Weak growth of personal deposits
26.08.2008
Personal deposit growth into Britain's banks was weak last month, newly published figures reveal.
The level of deposits into savings accounts and current accounts rose by £0.8 billion, according to the British Banker's Association.
According to the body, this continues the "pattern of weaker deposits seen in the last few months".
In related news, Abbey recently found that many Britons are turning to one lone provider for their financial product needs, such as credit cards, insurance and savings accounts.
The bank released research at the start of this month which showed almost one in five people are consolidating their financial products.
It suggested this is because they are struggling to remember all the different passwords and Pins each provider requires.
A spokesman for Abbey said: "Many of us now prefer to keep things simple and use one provider that they can trust to provide good value across the board."
The level of deposits into savings accounts and current accounts rose by £0.8 billion, according to the British Banker's Association.
According to the body, this continues the "pattern of weaker deposits seen in the last few months".
In related news, Abbey recently found that many Britons are turning to one lone provider for their financial product needs, such as credit cards, insurance and savings accounts.
The bank released research at the start of this month which showed almost one in five people are consolidating their financial products.
It suggested this is because they are struggling to remember all the different passwords and Pins each provider requires.
A spokesman for Abbey said: "Many of us now prefer to keep things simple and use one provider that they can trust to provide good value across the board."