British banks have defied the Brexit gloom to increase their profits by a third, outpacing the Eurozone, according to new figures.

Britain’s banking sector now ranks tenth in the world behind countries including France, Brazil and Russia after seeing annual profits plunge by 41%, according to research.

DESPITE being named in honour of a prominent Irish businessman, no Irish bank was deemed worthy of nomination for the latest international Bank of the Year Awards, doled out in London on Thursday night by the Banker magazine.