Banks increasingly popular investments, figures show

Mon, 20 Oct 2008

Banks' falling share prices have led to an increase in the number of people investing in them, according to new figures.

Data released by TD Waterhouse shows there was a 28 per cent increase in buys for shares in RBS, Lloyds TSB and HBOS last week.

Angus Rigby, chief executive officer of the firm, claimed that people have chosen to make investments in the banks partly because of the government bail-out plan.

He said: "Following the news that the government was forking out £39 billion to help three of the biggest banks, it is not surprising that banking stock is still the most popular choice with our customers."

Lower prices also mean people think they are getting value for money investments, he added.

Recently, the Carter Allen Private Bank launched a new investment product which offers people a maximum of 11 per cent growth per year on their money.

The Selected UK Banking Plan Issue 2 fund is dependent on the success of the four largest banks in the UK and also offers 100 per cent capital protection.
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