Lenders may look to attract more deposits from savers to raise funds to repay Bank of England pandemic-era loans
Britain’s biggest banks are facing a deadline to repay more than £100bn of pandemic-era loans, which experts say could benefit savers as banks and building societies compete for customers with attractive rates in a “messy” dash for cash.
More than 70 lenders ranging from high street banks and building societies such as HSBC and Nationwide to digital and specialist lenders such as Starling Bank and Aldermore collectively borrowed £193bn from the Bank of England as part of an emergency programme rolled out in the early days of the Covid-19 pandemic in 2020.
