As the dust settles on the third-quarter reporting season, what have investors learnt about the UK banking sector? Have its prospects improved? Could the sector enjoy a year-end rally or will it continue to lag the wider market?
Based on what has been said over the past couple of weeks, the outlook remains gloomy. The part-nationalised banks – Lloyds Banking Group and Royal Bank of Scotland – have abandoned key performance targets because of the fragile UK economy. Lloyds has also lost its high-profile chief executive to stress.
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