Britain’s top four high street lenders have set aside towards £2.5 billion this week to deal with bad debts, a clear sign that the bankers are preparing for a recession.
Today NatWest recorded an “impairment charge” of £242 million for the last three months alone. That compares favourably to Barclays at £381 million, Lloyds Bank at £668 million and HSBC’s £930 million but is still a clear sign of looming distress.
