The five years through 2012-13 have been some of the most volatile in the history of the banking industry. After a period of surging revenue and profit – driven by a credit boom, strong economy and unprecedented expansion in banking operations and products – the industry was brought to its knees by the financial crisis in late 2008. As global capital markets plunged and banks stopped lending to each other, massive asset write-downs wiped out bank equity, resulting in the collapse of Northern Rock and forcing the partial nationalisation of those left standing. Despite the weak conditions, IBISWorld estimates industry revenue will increase at an annualised 3.0% over the five years...
0 Responses to Banks in the UK Industry Market Research Report Now Updated by IBISWorld