The total amount owed by the UK’s biggest banks has increased by more than £1 trillion to reach an all-time high.
The figures were released by the Office for National Statistics (ONS) in a report on the financial health of the country’s economy.
The total bill has risen by £2.1 trillion, or 2.5% to reach £3.7 trillion.
Banks’ total liabilities as a percentage of GDP, including unpaid loan balances, are up by £1.2 trillion to 79% of GDP.
The government has pledged to bring down the national debt to 70% of gross domestic product by 2020.
This was the first time since the financial crisis that the total national debt has exceeded 80% of the gross domestic output.
The ONS said that banks had taken a “very large and sustained” hit from the crisis, with their loan books having more than doubled.
The banks that had been bailed out by the taxpayer, such as Lloyds, Barclays and RBS, have seen their debts soar.
The biggest rise in total debt is seen in the City of London, with a rise of £3 trillion to £3,958 trillion.
The country’s biggest companies, including Barclays, have also seen their loans rise, with an increase of £1 billion to £2,865 billion.
The average UK lender has taken a £3 billion hit.
“It’s been an extremely difficult period for UK banks, and a difficult period even for their shareholders, who have had to absorb the fallout of the global financial crisis,” said Richard Barbrook, chief economist at Pantheon Macroeconomics.
This means that in total, the average UK bank’s total liabilities have risen by more to £1,300 billion, which is the highest in the G7.” “
The big picture, for example, is that, since the crisis began, total UK debt has risen from 70% to 79%.”
This means that in total, the average UK bank’s total liabilities have risen by more to £1,300 billion, which is the highest in the G7.
“Barclays’ share price rose by more in the wake of the data.
The bank’s shares were up by 2% to £19.95, while RBS shares rose by 3% to $28.99.
Lloyd’s share price went up by 1% to 3 cents.
Barclays said it had made a “significant reduction” in its UK business since the global recession began.
Lloyalds said that it had reduced its UK assets by $2.5 billion, including the sale of certain UK commercial property assets, and had reduced loan losses by $1.5bn, and was on track to make a profit this financial year.
It said it was also preparing for a possible second quarter decline in revenue.
However, RBS is confident in the financial resilience of the sector and remains a leading bank in the UK,” the bank said in a statement. “
Our results reflect the UK Government’s decision to phase out its lending to UK-listed firms.
However, RBS is confident in the financial resilience of the sector and remains a leading bank in the UK,” the bank said in a statement.
Barclays and Lloysd have both been hit by the government’s new regulations on how banks can raise money for their businesses.
These new rules require that all banks must publish detailed accounts of all loans, as well as a detailed analysis of how much each loan costs.
The regulations mean that Barclays and the Royal Bank, which both have been bailed-out by the Treasury, will be required to report the cost of all their loans on their balance sheets.
Barclays has already reported a £1bn loss for its second quarter, and is likely to be facing another loss as it struggles to pay back the £300bn loan.
Barclays shares are up about 7% in London as investors celebrate the financial success of the bank.
The UK is a large market for commercial banks, but in recent years it has become increasingly difficult for smaller players to access it.
In the US, Barclays is the third largest commercial bank by assets after Wells Fargo and Bank of America.
In 2016, the government was forced to bail out the bank, and it was forced into a takeover by private equity firm Apollo Global Management.
It also received £10bn in taxpayer guarantees, and the government now owns shares in the bank for the first-time.