Internet fails to cut into high street bank profits

clock

Fears the internet would undermine bank margins have been proved wrong with the sector returning 14....

Fears the internet would undermine bank margins have been proved wrong with the sector returning 14.03% over the 12 months to 29 December, according to Forsyth McGarrity, director of UK Equities at Scudder Threadneedle. McGarrity says: "The effect of the internet has not been as dramatic as expected. The main effect of technology has been that pricing is much clearer as the best rates can be seen online and money can be shifted around easily." He notes over the past year there has been a large amount of consolidation with the Royal Bank of Scotland buying Natwest and Barclays acquiring ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •