CBI report UK Banks more optimistic than for 17 years

In a recently published industry survey, UK Banks and other financial institutions have never been more optimistic: not for the last 17 years at least. According to a survey commissioned by the CBI and PWC, optimism across the financial services sector has been rising at its fastest rate since the mid-1990s.

The sentiment report published by CBI and PWC stretches across the whole of the financial services industry but the sections on banks and building societies are more interesting because they are most closely connected with fundamental economics.  Banks now expect UK businesses to recover during the coming quarter. Building societies are enjoying growing revenues and profitability and expect this to continue.

The fact that the financial services industry is recovering its confidence and composure so fast should not dominate our thoughts about where we precisely are in the cycle of economic recovery.  However, we do regard this survey as an important “dot” on our radar map of the future for our clients’ finances.