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Loan Protection: UK banks face uncertain future

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 Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate financeADNFCR-2776-ID-800291324-ADNFCR

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