£24 billion profit by UK top banks great sign of curing economy

UK’s banking sector majors are set to reveal hopping profit of around £24 billion flashing the recovery of crisis indulged banking sector. Barclays, Lloyds, HSBC and Standard Chartered all four banking majors are going to announce profit sharing of approx £24 billion. It is up by ten percent compared to last year reports.

The profit growths estimated will clearly bolster the financial sector that was badly battered due to the great economic depression and one of the prime catalysts in drawing the great downturn.

The news has come as counter point to the statistics provided by government that the toppling of Britain’s productivity by 0.5 percent and slump of consumer confidence at a level low as was 19 years before.

HSBC will lead the profit share with £13.5 billion which is more than double of £5.16 billion last year. Followed by Standard Chartered who’s sharing will be approx £4.5 billion more by around £1 billion what they grabbed last year.

The news has spread a wide smile on the face of prospective immigrants and employees who lost their jobs due to the recessionary conditions. Indian immigrants used to represent a handsome number of UK’s bank employees prior to the economic downturn.

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