Financials sector on path to recovery

BRITAIN’S battered financial services sector may now be on a gradual path to recovery, according to a survey out today.

Financial services firms are more upbeat than they have been for two years despite continuing falls in levels of business, income and profitability in the industry for the three months to June, the report by the CBI business group said.

Parts of the sector – including insurance companies and banks – are hopeful that business volumes will rise in the coming quarter as industry declines slow.