Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Bank Charges: Lloyd's chief rejects sees no benefit in breaking up UK banks

UK banks do not need to be broken up to boost competition, according to the chief executive of Lloyd's Banking Group

Speaking to the Treasury Select Committee, Eric Daniels expressed his belief that the UK banking sector is already "enormously competitive" and dismissed claims that breaking up banks would improve the current situation.

The committee is currently investigating the levels of competition among banks in Britain and revealed that four firms currently hold 73 per cent of the current account market.

Responding to this figure, Mr Daniels said: "I think if you look at the concentration in the UK market, it is in fact less than many markets.

"If you looked at countries such as France, Australia and Canada you would find even greater concentrations," reports BBC News.

He added that the banking sector in many states in the US, such as California, is also dominated by a small group of companies despite many believing that the country has a competitive financial market.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800277805-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide