UK banking sector 'falling behind global rivals'



Originally posted by 5corpio
The UK banking sector has fallen behind its main competitors since the global financial crisis, a report has said.

Four years ago, UK banks were the second most profitable in the world behind those in the US, but they have now dropped to fifth place, according to the Banker magazine.

It said the UK banking industry had been overtaken in the past four years by China, Japan and France. The Banker said the UK sector faced a struggle to regain its former position.

'Herculean task'
Profits at UK lenders are still 58% below their 2007 peak, according to the the Banker's latest ranking of the world's 1,000 biggest banks by measure of their...Read more on Story HERE