Britain's banks face 25% earnings hit from no-deal Brexit - Citigroup
Britain’s banks face a hit of up 25% to their earnings if Britain crashes out of the European Union without a deal, analysts at Citigroup (C.N) said in a research note.
The economic slowdown that would result from a no-deal Brexit, as well as the likelihood of lower interest rates and borrowers defaulting on loans, would hit earnings per share by between 15 to 25%, the analysts at Citi wrote in the note published on Thursday.
Read more at Reuters.
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