U.K. Retail Banks to Offer More Export Loans in Liam Fox's Plan
- Lloyds, Barclays, HSBC, RBS, Santander provide export finance
- Brexit-backer Fox says initative will lift barriers to trade
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Five of the U.K.’s leading retail banks have pledged more financial support for small British exporters, with government backing, as Prime Minister Theresa May’s administration prepares the country for life after Brexit.
The U.K. said its export credit agency reached an agreement with Barclays, HSBC, Lloyds Banking Group, RBS/NatWest and Santander UK Plc to provide export-related trade finance, for example working capital loans and bonds required by overseas buyers, backed by government guarantees.