Profitability falls as impact of credit crunch, says survey
The impact of the credit crunch on the UK financial services industry has worsened over the past quarter, as profitability fell at a record pace and business volumes fell at the fastest rate in 17 years, a new survey said.
The latest Financial Services Survey from the CBI and PricewaterhouseCoopers LLP also showed that credit has remained expensive and in short supply with the gap between lending and borrowing rates
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