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UK Finance Firms Fear More Bad Loans on Horizon, Survey Says

An increasing number of the UK’s financial services firms expect a rise in loan defaults in the next three months, the latest reminder of a gloomy economic outlook.

A balance of 23% of respondents to the CBI/PwC Financial Services Survey said they expect the value of non-performing loans to grow in the next quarter. That reading was 5% in September, according to the poll.