UK competition probe says free banking not the problem

London

BRITAIN'S banks will not be broken up or forced to ditch free banking services to improve competition in the industry, alleviating the fears of the country's dominant lenders.

The Competition and Markets Authority (CMA) instead recommended measures to make it easier for Britons to compare the full costs of accounts, telling banks on Thursday to provide clearer information.

"Today's findings will probably be seen positively by the larger banks as the CMA have not found evidence of excessive profits, have steered clear of proposing an end to…