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- Banks expect London to remain a top financial centre, says survey
Banks expect London to remain a top financial centre, says survey
Reuters reports that Lloyds Bank's annual sentiment survey of financial firms showed that London will remain a leading global financial centre despite uncertainty over regulation due to Brexit.
Britain fully left the European Union, its biggest single export customer, in December last year. But the survey of more than 100 banks, asset managers and insurers showed that more than two-thirds believe that London will remain a top centre.
Brexit led to the UK financial sector being cut off from the EU and the survey showed that 42% believe a resumption of access won't happen until 2023 or later, while almost a third said it will never happen.
Regulatory change is seen as the biggest threat, consistent with the "ongoing uncertainty" over the shape of regulatory reform many months after Brexit, the survey said.
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