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Higher bank charges necessary, says ABI

British financial institutions will have to increase their bank charges for loans or else stay "uninvestable", according to a leading expert.

The Association of British Insurers' (ABI) director of investment Robert Hingley told the Financial Times that at present it is tough for banks to generate any equity, which means they will have to increase the amount they charge customers.

In the run up to 2007 investors were happy for banks to generate returns on equity with over-leveraged balance sheets, but this is no longer the case.

What's more, Mr Hingley believes investors are agitated by regulatory uncertainty, which is a big issue in the UK. There are plans in place to ring-fence retail banking behaviour to control risky investment banking through the Vickers Commission reforms.

This does have implications for household budgeting, as it could mean families are spending more on basic banking services, potentially pushing them into debt.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801504442-ADNFCR



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