UK Banking: An Island of Profitability

Profit from the structural advantages that banks enjoy in this market.Morningstar, Ganesh Rathnam, 28 June 2006When the government sets up a commission to study the abnormal profitability of a certain industry, there's a good chance that industry has an entrenched economic moat. Such a study was set up by the U.K. Treasury in 1998 to study the extraordinary profitability of U.K. retail banks.