During 2024 both US and UK banks performed reasonably well, comfortably outperforming banks in Europe, despite concerns in the US over the mid-tier banking sector in the wake of the collapse of Silicon Valley Bank.

These concerns over a combination of exposure to rising interest rates in the long-dated US treasury market, as well as an over concentration of customer deposits in the tech sector, saw a number of bailouts which prevented a wider scale collapse, and despite concerns over AI the