NUKEs will Fundamentally Alter The UK banking Landscape

The Current Account Switch Guarantee, which went into effect in the UK last September, gives depositors an easy way to move from one bank to another. With the British economy recovering, loan growth will eventually follow and the new regulation could give smaller banks a way to chisel away at the market share of megacaps that have been through years of cost cutting. Large banks mostly competing on price, not service: Dickerson Our analysis of the UK banking market concludes that the Utility Banks will cede four points of market share to the challenger space, opening up a £100bn loan…