The half-year results for Britain’s banks were well ahead of expectations and even prompted talk that part-nationalised institutions will soon be reprivatised through “Tell Sid”-style extravaganzas.
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Two steps forward …
Three years after the onset of the credit crisis, when several British banks narrowly avoided bankruptcy thanks to Government intervention, it seems the prescribed regime of management clear-outs, capital rebuilding, global retrenchment, cost-cutting and a more considered approach to lending is beginning to bear fruit.
