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Financial service business grows

Financial service business volumes have grown for the first time in two years.

PricewaterhouseCoopers and the Confederation of Business Industry (CBI) surveyed banks and building societies to show a 7% increase in the three months to early September.

PwC and the CBI said that future demand is still “a major concern”.

Out of the financial service businesses surveyed, 36% said they were more optimistic about their business situation than in June.

Andrew Gray, head of financial services consulting at PricewaterhouseCoopers, told the BBC: "For the first time since June 2007, banks are experiencing an upswing in confidence.

"Confidence is, in part, offset by concerns of further impairments and the impact of 'tougher' regulation."

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