Market news
03.12.2019, 08:21

UK banking outlook changes to negative from stable as operating environment weakens - Moody's:

  • Low interest rates and increased competition in the mortgage market are eroding the net interest margins of most UK lenders.

  • Moody's expects a modest deterioration in profitability, as persistently low interest rates and tough competition in the mortgage market erode banks' margins.

  • In addition, banks will continue to reinvest cost savings achieved in enhancement of IT platforms and digitalisation of processes and channels.

  • Some large lenders, however, will likely report higher net profit in 2020, helped by a sharp fall in conduct costs after an August 2019 deadline for compensation claims for mis-sold payment protection insurance (PPI).

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