Negative outlook for banks in longer term

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The consolidation of the UK financials sector is continuing as major players look to streamline cost...

The consolidation of the UK financials sector is continuing as major players look to streamline costs and produce further productivity gains For many fund managers Bank of Scotland's surprise £21bn bid for NatWest is the move which should spark off renewed action in the sector The main threat to high street banks and building societies is the new entrants ‹ Prudential's Egg and Standard Life. These offer higher interest rates and cheaper lending rates because they are not supporting a costly branch network. The cost of originating a mortgage with a traditional mortgage lender is 10 times...

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