United Kingdom Banking & Financial Services Q3 2019
|出版商||Fitch Solutions, Inc.||商品編碼||509947|
|出版日期||內容資訊||英文 65 Pages
|英國的銀行、金融服務行業分析 (以季度為基礎) United Kingdom Banking & Financial Services Q3 2019|
|出版日期: 2019年05月14日||內容資訊: 英文 65 Pages||
Despite the building uncertainty surrounding the United Kingdom'simpending exit from the European Union and the potential detrimental impact on the country's banking and financial services industry, we remain broadly positive in our view of the sector.The UK has one of the oldest, largest and most well-developedfinancial services sectors in the world that will not be dissolved overnight byBrexit. It is a regional leader in terms of the total economic contribution of financial services, and only in Luxembourg and Switzerland does the industry form a larger proportion of the country's total economy within Western Europe.
Taking a more critical view, this well-developed status means the industry is saturated, and opportunities will lie in innovation and through mergers and acquisitions (M&A)rather than organic growth in all four markets that we track. This trend is already playing out across the financial services sub-sectors.
The UK economy's reliance on financial services will not wane over the next ten years, though the relationship between the UK and EU post- Brexit , and in particular the fate of thepassporting system that allows EU- based companies to operate in the UK, will be a major factor in determining the industry's growth trajectory. In the near-term, this means that companies arelikely to defer or scaleback their investment andspending decisions, weighing on demand for credit.In the meantime, we highlight that the industry is focused onfurther tightening regulation and increasing transparencyin order to support ongoing growth, and specifically to the banking market, maintaining adequate capital buffers.