Earlier this year we ran a survey asking our clients what changes had been made to their banking facilities and what rates they were currently paying. This was then compiled with some national statistics from The Corporate Finance Network, and it produced some shocking results.
Almost 50% of businesses that responded said they’d had an adverse change to their banking facilities imposed on them by their bank, in the last 12 months!
With the upcoming merger of many Natwest accounts with Santander later this year, the retreat of Clydesdale Bank from southern England, and the ongoing reorganisations as the integration of HBOS and Lloyds Banking Group continues, you’d be forgiven if you thought that the UK Banking Market had gone into meltdown. The headlines from the early days of credit crunch may have abated slightly, but the fallout most certainly has not.
So now we are looking further forward and want to predict what other changes we may see in the banking market in the coming years. This market intelligence is essential if we are going to continue to advise our clients in the best way possible.
So if you’d like to be part of this survey, please complete just 8 quick questions by clicking here:
https://www.surveymonkey.com/s/FutureOfBanking
