Bank brands to disappear

A CARVE-UP of British high street banks will leave the future of a catalogue of household names in the balance.<br /><br />RBS must sell Direct Line and Churchill as well as 318 other branches as new EU orders kick-in.<br /><br />Meanwhile at Lloyds the TSB and Cheltenham and Gloucester are also in line for the cull, changing the UK&rsquo;s financial landscape.<br /><br />Northern Rock will also be changed beyond recognition with its split into &ldquo;good&rdquo; and &ldquo;bad&rdquo; banks.<br /><br />Manqj Ladwa, senior trader at ETX Capital said of the break-ups: &ldquo;If all goes to plan then it should restore confidence in the UK banking sector, circumnavigate competition issues and give the UK Treasury value for money.&rdquo;<br /><br />&ldquo;But what if it doesn&rsquo;t go to plan? What if we have a double dip recession? These are the questions the markets will be asking.&rdquo;