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Banks slash billions from UK exposure amid Brexit uncertainty

Banks slash billions from UK exposure amid Brexit uncertainty

Australian banks cut their exposure to the United Kingdom by $US16.2 billion ($23.4 billion) in the first six months of 2019, underlining the local banking sector's dwindling ties to the British economy amid Brexit uncertainty.

by Shared by The Age | Nov 7, 2019

Statistics from the Bank for International Settlements (BIS) show that over the March and June quarters of this year, Australian banks’ total exposure to the UK dropped from $US79 billion to $US62.8 billion, a fall of one-fifth.