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Sentiment in the British financial services sector stabilized in the three months to March, having deteriorated throughout 2016, the Financial Services Survey from the Confederation of British Industry and PricewaterhouseCoopers showed Monday.
About 33 percent of firms said they were more optimistic about the overall business situation compared with three months ago, whilst 29 percent were less optimistic, giving a balance of +4 percent compared to -35 percent in the December quarter.
Looking ahead, a balance of 9 percent expects growth in business volume to slow somewhat.
"The survey shows that sentiment has now stabilized among firms, but clearly the economic and political backdrop is affecting how companies feel about the future," Andrew Kail, head of financial services at PwC, said.
"In the short-term, firms are still managing to make good returns despite all the uncertainty pervading the general trading environment," Kail noted.
"With the triggering of Article 50 just days away, the UK's financial services industry will have to start activating contingency plans to deal with life outside membership of the European Union," he added.
