Framlington more positive on the banking sector

The internet is now being embraced by the big incumbents across the banking sector, enabling stagnation to give way to growth, according to Neil Birrell, fund manager of Framlington New Leaders. Birrell said: "The internet is now being seen as a positive, not a negative to the banking sector. Egg is a real winner, but needed an incumbent player leveraging off the internet to make it a success for them. It wouldn't have been a success without the name Prudential behind it." Birrell said fears about the internet are dissipating, as even the most monolithic banks look to develop online opera...