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 ...
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