UK banks face an uncertain future over the next 18 months, according to a new study.Ratings agency Moody's has published the findings of its latest report on the British banking sector which maintained its negative outlook on the industry.The firm claims that the current economic climate coupled with the recent austerity measures and the gradual withdrawal of government finance initiatives mean many UK banks could continue to struggle over the coming months.Furthermore, around £215 billion of bank debt will mature over the next two years, while firms will also have to look for different sources to help support a new refinancing package.Elisabeth Rudman, senior credit officer and author of the report, claimed the worst may still be yet to come for many businesses.She wrote: "The full impact of the fiscal austerity package on the economy and unemployment is unlikely to materialise by the second half of 2011."Posted by John FieldmanHaving worked in the city for 19 years, John's main focus is interest rates and corporate finance
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.