LONDON (Alliance News) - The British Bankers' Association is to consider options for a consolidation of dozens of industry bodies following top-level talks with banking executives held last week, Sky News reported on Thursday.
The chairmen of the UK's five biggest banks, including Barclays PLC's David Walker and Lloyds Banking Group PLC's Lord Blackwell, are understood to have met with the BBA last week to discuss proposals to combine with peers like the Payments Council and the UK Cards Association, Sky News said.
The chairmen are understood to have commissioned a working group to examine the issue. It follows from concerns raised about the level of subscriptions the banks pay for membership of a range of associations at a time when their businesses are facing significant cost pressures.
http://news.sky.com/story/1338018/bank-chairmen-call-on-bba-to-seek-mergers
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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