Belfast Telegraph

Banking results show economy is picking up

A raft of banking results has proven that one of the most badly hit sectors of the economic downturn is showing signs of picking up.

From Lloyds to Danske to First Trust, the results wouldn't have been greeted with such applause at the height of the boom but these days are welcomed with open arms, even though most banks are still registering a loss.

Ulster Bank and Bank of Ireland will have reported their results by the time you read this so we will have a clearer picture of where we stand as an economy going into the weekend.

Certainly we are not back to the heady days of pre-2008 but if the overhaul of the banking system can be completed as soon as possible then businesses will be able to get back to working in a normal monetary environment.

That's providing banks, in an effort to redress their balance sheets, don't end up stifling lending, although each and every one of them will tell you that they are ready and willing to lend.

Time will tell.

Belfast Telegraph

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