Big challenges remain for the banks

Big challenges remain for the banks

Just a few months back - amidst the ongoing eurozone crisis, grim economic conditions, hefty mis-selling provisions and reputational scandals - prospects looked bleak for the banks. Yet bank shares have seen a remarkable rally in the last three months - Barclays' (BARC) shares are up over 50 per cent since the third week of July, for example - even though lenders' third-quarter figures were hardly pretty. Lloyds Banking (LLOY) and Royal Bank of Scotland (RBS), for example, reported thumping pre-tax losses. So what's changed?

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