World Economy

Competition Increases

Competition IncreasesCompetition Increases

Britain’s biggest customer-owned lender, warned of increasing competition on Tuesday, as banks begin to lend again after several years spent slimming down and building capital reserves, Reuters said. Britain’s third-biggest provider of home loans and savings products, Nationwide, reported an 83% rise in underlying profit as the margin it made on loans improved. But the loans were lower than in the same period last year.