The UK’s financial services firms saw strong growth in business volumes in the three months to September, with profits rebounding and hiring on the up.
The latest CBI/PwC survey of the sector found new work levels grew at their fastest rate since 2007 and said the momentum was expected to continue into the coming quarter.
“It is encouraging to see an increasingly optimistic industry, particularly with regards to growing volumes and revenues,” Allan McGrath of PwC said.
“The industry in Scotland and the UK – is very much focused on boosting its core business through customer retention, product and service development, and greater efficiency.
“Investing in systems, IT and digital capabilities is also a priority across all sectors, especially in banking, asset management and insurance sectors.
“With digital commerce a growing phenomenon across the industry we can expect this to become a key battleground between existing firms and new entrants, who don’t have the chains of legacy systems to hold them back.”