Financials struggle in the face of online investment

Margin pressure will impact UK banks over the coming months while Europe and the US enjoy vibrant financial sectors. That is the view of Richard Moore, a director at Singer & Friedlander Investment Management, who says he has not liked UK banks for several months. Moore is worried about the ongoing potential for margin pressure on the sector. He adds HSBC's recent announcement it would be re-pricing its rates for existing customers as well as new mortgage customers was an example of the kind of competition that will come to bear in the UK banking sector. He says: "HSBC is quite a small pl...