The U.K. banking sector could be the one big casualty of the Bank of England's decision to cut interest rates by 25 basis points and the announcement of further easing.
The U.K. banking sector, along with the larger European banking sector, has been under pressure in this already low interest rate environment.
Add to that the massive blow banks like Royal Bank of Scotland, Barclays and Lloyds suffered after the U.K. voted to leave the European Union on June 23. Major European banks like Deutsche Bank and Credit Suisse saw their shares in free-fall after the referendum's results were announced. In the U.K., RBS was the worst-hit, with its shares plunging by more than 30 percent since June 24.