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British financial services achieved a third quarter of growth – survey

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LONDON, Jan. 13 () – UK financial services grew for the third quarter in a row in the last three months of 2021 and grew at the fastest pace since mid-2017, although COVID-19 has eased optimism. and a survey of 105 firms. sector showed.

A year after the end of the Brexit transition, the health of Britain’s financial services has been closely monitored since London was largely cut off from the European Union.

CBI chief economist Rein Newton-Smith said in a statement: “While volume and profitability growth across the financial services sector has remained stable, the softening of optimism should have been carefully monitored due to growing COVID-19 uncertainty, which obscured the economic outlook in the near future. something. ” .

A survey of 105 financial firms conducted by the CBI group of employers and PwC consultants ended last month before new restrictions were introduced in the UK to combat the spiral cases of the coronavirus Omicron variant.

According to the survey, in the first three months of 2022, firms expect activity to be stable and strong.

In the coming months, profitability growth is expected to slow slightly, while the number of employees is expected to grow steadily and the priority of talented personnel will be maintained.

After the first quarter, the UK said major companies should disclose climate-related financial information from April 2022 using globally agreed guidelines.

The survey found that 40 percent of firms said they were “a little ready” for April, 14 percent said they weren’t ready, and the rest said they were fair or very ready. (Report by Hugh Jones; edited by Alexander Smith)

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