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Brexit and banking mass exodus from Britain

Leading banks are set to withdraw from Britain in early 2017 as fears grow over the so-called “hard Brexit,” says the chief executive of the British Bankers’ Association.

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Anthony Browne, head of the British Bankers’ Association has warned that Britain’s biggest banks are preparing to relocate out of the UK in the first few months of 2017 amid growing fears over the impending Brexit negotiations, while smaller banks are making plans to get out before Christmas.

This item will focus on the effect of such phenomenon with an eye on banking sector contribution to the British economy.