Banks were among the best-performing UK shares this year as elevated interest rates provided a boost to the sector, despite concerns over the domestic economic recovery.
Shares in NatWest delivered the highest returns this year to the middle of December, rising 101 per cent including the price increase and dividends, according to investment site Hargreaves Lansdown. Barclays was the fifth best-performing stock, with an 81 per cent rise.
The UK lenders have been buoyed by higher interest rates, which were cut in August after nearly a year at 5.25 per cent. This elevated level has allowed them to generate attractive net interest margins — the difference between the amount they pay out on loans and earn on deposits.
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