Good bank, bad bank? Managers' picks from the UK banking sector

With the banking sector reporting mixed first quarter results, which groups are still worth holding on to?

The past week has seen a string of UK banks reporting their first quarter earnings, but the results have been a mixed bag RBS shares leapt after surprise profits of £1.6bn, while Lloyds reported a 22% rise in underlying profits, and Barclays’ investment bank profits halved. Wealth managers are watching the sector closely. Cornelian Asset Management chief investment officer Hector Kilpatrick said the ‘bad bank’ may soon be a thing of the past. “The banks have been restructuring aggressively for some time now," he said. “We have seen strong updates in the past few days, and it would ...