Britain banks to post stronger-than-forecast Q3 results

London

BRITAIN'S major banks are set to report stronger-than-expected results this week, confounding expectations that political and economic upheaval caused by the vote to quit the European Union (EU) would immediately squeeze profits.

Since the vote in June, shares in Royal Bank of Scotland and Lloyds have fallen by about a quarter, partly reflecting their heavy exposure to any downturn in the British economy.

But senior executives from the major banks told Reuters consumer spending had held up in the third quarter, while there had only been a modest drop in deman…