Banks urged to share the “spoils”
‘The Consumer Council fears that many banks are not sharing the “spoils” of profit increases with their customers.
It comes as First Trust Bank (FTB) and the Royal Bank of Scotland (RBS) reveal impressive profits for 2004.
Speaking about FTB and RBS’s announcements, Eleanor Gill, chief executive at the Consumer Council said: “These profits are good news for the banks and their shareholders.
”Our question is whether this will be a bumper year for bank customers as well as the banks.“
According to the Office of Fair Trading recent report, the big four banks command a 77 per cent share of the market and are subsequently pulling in profits of almost £1.5 billion from the personal banking market.’
Read more at Banks urged to share the ”spoils“
Recent Entries
- Record number of savers look to stash cash in tax-free Isas
- Savings targeted by 43%
- Personal finance advertising lagging behind consumer internet drive
- £1 a week earns 14 years of freedom
- Third of Scots have no more than £100 put away
- Debit accounts can help youngsters learn lessons about money
- £130,000 - the cost of life as a pensioner
- UK set for strong mortgage revival
- Brits break personal finance pledge
- Bankruptcies in Scotland soar by 50%, but worst is still to come