Tesco
What Brexit Means for Financial Institutions
Report

What Brexit Means for Financial Institutions

Tim Monger, Philippe Morel, Olivier Sampieri, Yann Sénant and Ben Wade
Boston Consulting Group, 2016
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Editorial Rating

8

Qualities

  • Analytical
  • Scientific
  • Visionary

Recommendation

The United Kingdom’s vote to quit the European Union will no doubt cast a long shadow on the country’s economic prospects, and financial institutions operating in the UK will face some of the consequences of that negative performance sooner rather than later. Banks and other financial entities should begin now to prepare for how they will operate in the UK and in the EU post-Brexit. This brief but informative report from professionals at the Boston Consulting Group lays out the possible scenarios for a variety of financial institutions and tallies up their costs. getAbstract recommends this worthwhile text to financial professionals and bank customers alike.

Take-Aways

  • Brexit’s impact on the British banking sector will vary by type of financial institution.
  • British banks serving mainly retail customers in the UK will face lower loan growth, reduced interest margins and heavier loan losses.
  • The outlook for UK banks with mostly domestic corporate clients includes less lending and payment activity, greater loan delinquencies and reduced returns.

About the Authors

Tim Monger et al. are professionals with the Boston Consulting Group.

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