Sunday 22 May 2022 12:25 AM Banks set aside cash to cover bad debts and brace for a £7billion hit on ... trends now

Sunday 22 May 2022 12:25 AM Banks set aside cash to cover bad debts and brace for a £7billion hit on ... trends now
Sunday 22 May 2022 12:25 AM Banks set aside cash to cover bad debts and brace for a £7billion hit on ... trends now

Sunday 22 May 2022 12:25 AM Banks set aside cash to cover bad debts and brace for a £7billion hit on ... trends now

Banks set aside cash to cover bad debts and brace for a £7billion hit on unsecured loans as the cost-of-living crisis bites down on the finances of everyday Britons British banks are preparing to cover the cost of £7billion of unsecured loans Debt is expected to be around a third higher than levels before the pandemic Cost of living crisis has left some squeezed borrowers struggling to repay loans

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Banks are preparing to cover the cost of £7billion of unsecured loans over the next two years as the cost-of-living crisis bites.

The amount of debt is expected to be around a third higher than levels before the pandemic.

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