Economics
Bankers Ring New Alarm Bells Over Brexit Threat to the Economy
- HSBC CFO is more cautious on U.K. than almost anywhere else
- RBS warned of uncertainty eating into income in coming months
May 2: BOE's Carney Says U.K. Firms Focusing on Short-Term Brexit Plans
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Brexit is taking an even bigger toll on the largest U.K. banks.
After years of work and millions of pounds spent in preparation for the U.K.’s withdrawal from the European Union, the delay to October and seemingly endless questions about the outcome are casting a cloud over bankers’ outlooks and taking the shine off the rise in shares this year. The sentiment was underlined on Friday when HSBC Holdings Plc’s Chief Financial Officer Ewen Stevenson warned that the uncertainty is plaguing consumer and business confidence.