TheCityUK Financial Services Report Highlights Improved Stability of UK Banks
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 05/08/12 -- A new report from TheCityUK () has shown how UK banks have improved their capital and funding positions, and are in a stronger position than banks in other large European countries.
The Banking 2012 report from TheCityUK, the independent body which promotes UK and related professional services, also details how UK banking sector assets rose 3% to a record GBP 8,119bn in 2011 - although profitability declined by approximately 10% during the year.
Britain has the second largest banking sector assets in the world after the US. Foreign banks hold 48% of total assets, a higher proportion than in most other large countries. The UK is the leading centre for international banking, and its 18% share of cross-border bank lending in September 2011 was the largest in the world.
Chris Cummings, CEO of financial services body TheCityUK, commented: "Our report highlights the success of the measures UK banks have taken to improve stability after a period of global economic turmoil. Banks have reduced reliance on wholesale markets to fund lending, and have narrowed the funding gap to just 8% of lending in 2011, from 24% at the outset of the credit crisis. While regulatory pressures exist to improve capital positions further, banks are also trying to respond to the calls for more lending."
The report also shows the has less exposure to the troubled eurozone than other countries. Direct exposure to vulnerable sovereign debt in Greece, Portugal, Italy, Spain and Ireland for the sector totalled around GBP 15bn at the end of the third quarter of 2011, less than a quarter of France or Germany's exposure. UK banks have large exposures to the private sector in vulnerable countries of over GBP 190bn. However, this is considerably less than France and Germany, which have overall exposures of over GBP 400bn and GBP 300bn respectively.
TheCityUK's Banking 2012 report also reveals that:
Access the TheCityUK's Banking2012 report in full and for free by entering your details at:.
About TheCityUK
TheCityUK is the independent membership body promoting and the related professional services industry.
The purpose of the organisation is to partner prosperity - supporting the competitiveness of UK financial services and protecting their considerable economic contribution. TheCityUK co-ordinates and facilitates the contribution of its members to drive and deliver its priorities.
Its UK-wide financial services membership covers all sectors in financial services and related professional services. It is independent and politically neutral. For more on TheCityUK, visit .
Contacts:
TheCityUK
Tim Skelton-Smith
Head of Marketing Communications
tim.skelton-smith(at)thecityuk.com
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Datum: 08.05.2012 - 13:43 Uhr
Sprache: Deutsch
News-ID 143928
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