Banks must 'improve communication' with businesses

Britain's banks need to improve their communication with managers of finance jobs if a return to normal lending conditions is to happen, according to the Institute of Directors (IoD).

Alexander Ehmann, head of parliamentary and regulatory affairs at the IoD, said that some of its members were still having problems accessing finance during the recession, but it is not as "widespread as some media commentary has made out".

"Banks are a little bit disengaged and a little bit distant. I think their communication will have to improve in order to see a return to absolute normality in terms of lending conditions," he added.

Mr Ehmann was commenting on new figures released by EEF, the manufacturer's organisation, which found increased positivity among its members towards credit conditions.

It showed that 32 per cent of firms reported an increase in the overall cost of finance, the lowest figure since the survey was first conducted at the end of 2007.

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Posted by John Oak

Filed: 02-12-2009