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Banks on track to hit Merlin targets

The five banks signed up to the UK government's Project Merlin agreement made £53bn of new loans available in the second quarter of this year

The UK’s five biggest banks are on target to reach their Project Merlin lending targets, data revealed by the Bank of England today shows.

HSBC, Lloyds, Barclays, Royal Bank of Scotland and Santander made £53bn of credit available to UK companies in the second quarter.

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