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Britain's banks might have been refinanced to the tune of tens of billions of pounds, but they still aren't keen to lend, say credit check experts Experian.
The company today said it is looking for expansion from Latin America -Brazil especially - as it waits for UK clients to show signs of life.
Chief financial officer Paul Brooks said: "Banks are still focused on minimising losses. And there is quite weak consumer demand for credit in any case."
Brooks reckons that, based on past cycles, the rate of unemployment will need to stabilise before credit card activity gets going again.
In an interim management statement ahead of Wednesday's annual meeting, Experian said that revenue is up 1% in the three months to the end of June. In Latin America, it is up 15%.
Experian is making up for the lack of demand for its services from banks by selling products outside of the financial services sector. Telecom companies, utilities and governments are all numbered among Experian's regular clients.
