Assessing the impact of Brexit on UK banking industry

Abstract

Great changes have taken place in Britain's economy since the country voted to leave the European Union. As the financial center of the world, Britain's financial industry has been hit hard from Brexit. In this thesis, I will study whether Brexit has a certain impact on the UK's macro economy and the UK's banking sector, as well as the changes in the UK's economic performance before and after Brexit. For this reason, I used regression model and correlation model to analyze some data. The results of the analysis show that Brexit has reduced the connection between the UK economy and the EU, the link between the UK stock index and the German stock index, and the link between the UK banking sector and the UK stock market has also declined significantly. In a word, Brexit has brought great negative impact on the UK banking industry and even British economy