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UK banking sector changes could create opportunities
A big shake-up of UK banks with taxpayer support will be unveiled on Tuesday, the BBC understands.
Announcements on the future of Lloyds and Royal Bank of Scotland will be made jointly by the banks and the Treasury.
Lloyds is expected to say it will raise more than £20bn from investors in return for staying out of the state-run insurance scheme to cover toxic loans.
Both will also have to set up new banks out of their existing branch networks and sell them within four years.
The creation of the new banks is on the instruction of the European Competition Commissioner Neelie Kroes and is supposed to boost competition.
RBS is also expected to confirm that it will participate in the government’s toxic loan scheme, but on different terms.
There are a series of articles going around about this, until they announcements are finalized it will be interesting to see how these changes will affect different areas of the financial sectors and what opportunities are created. If we do see new banks or organizations arise from these announcements will this not create a large series of projects from a business and IT standpoint?
Could we see further demand for data center space, IT disintegration projects and new infrastructure to meet new business needs – each new division might need a new Active Directory, Exchange and internet portal, not to mention file and print etc. We’ll have to wait and see.
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