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UK bank reporting season starts this week

As analysts await the announcement of results from Royal Bank of Scotland many people will be watching for signs of further deterioration in the UK economy and the banking sector as a whole. Despite signs that the UK economy has been improving of late, we need to see significant follow through to convince consumers, investors and businesses. The ongoing increase in liquidity in the banking sector is encouraging but when you compare the current level against the level just 18 months ago it pales into insignificance.

It is easy to forget that while the UK banking sector has picked up over the last few weeks, with many shares posting significant gains, many balance sheets have been holed below the waterline and there is no quick fix available. Despite the fact that UK taxpayers have increased liquidity and funding levels for the likes of Royal Bank of Scotland, HBOS and Lloyds Bank there is still much work to be done to undo the damage inflicted over the last 18 months.

Royal Bank of Scotland will be the first of many UK banks to announce figures, trading statements and opinions about the future and the UK stock market will no doubt be very volatile over the next couple of weeks.

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