Financial firms operating in the UK are optimistic about the future and have seen demand grow , with a new survey indicating the highest growth in seven years.
Price Waterhouse Coopers, along with Confederation of British Industry, interviewed 109 finance firms and the results of the survey showed that these companies were once again enjoying growth. There was a rise in business volume, better profitability and firms had upped their recruitment.
The survey showed that 63% of UK-based finance firms experienced a rise in volumes over the last quarter. Only 8% were expecting volumes to decrease in the future.
Profitability was up too, according to 60% of respondents. Just 8% said that they had seen profitability fall. Many firms had hired more people, although going forward, most firms were planning to slow down the rate at which they recruited new staff.
The value of non-performing loans that have caused the sector problems in the past fell at the fastest rate since 1996.
The Director of Economics at the CBI, Rain Newton Smith, said:
“The spike in costs was offset by a steep fall in the value of non-performing loans, suggesting that much of the fall-out from the financial crisis is now working its way out of the system.”
At DJB, we are also seeing growth as more firms turn to us for innovative solutions to their business cash flow problems. We offer a service that is accessible to all firms, along with a range of solutions, including asset backed lending, equipment finance and refinance.
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