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Will the UK banking sector ever recover?

The ongoing demise of the UK banking sector, with Royal Bank of Scotland, Lloyds bank, Northern Rock and Bradford & Bingley all in some way heavily dependent on the UK government, has cast a very dark cloud over the UK economy. As we mentioned in some of our other articles there is concern within the investment industry and indeed the Standard & Poor's credit rating agency is very downbeat on the UK banking system.

In due course it is highly likely that the UK banking sector will begin to move back up the league of banking systems in the world although it may take some time to reclaim its place at the top table. One of the major concerns in the short to medium term is the threat from overseas banking institutions who may be looking to acquire UK assets "on the cheap" in these most difficult of times. While this would offer increased financial backing for any UK operations taken over by overseas counterparts, it would take away the decision-making process from UK-based management.

Despite the fact the UK economy would appear to have turned the corner there is still much work to do with the damage done to the UK banking sector far more severe than many people could ever imagine.

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