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As the FTSE 100 index fell by two per cent in early trade today (September 12th), organisations such as the Royal Bank of Scotland, Barclays and Lloyds Banking Group all saw their share prices plummet by more than five per cent.
An index compiled by Bloomberg revealed that 46 lenders were trading at 0.56 times their book value, a low not equalled since March 2009.
Peter Thorne, an analyst at Helvea, told the news provider: "You have to make the banks look financially stable and secure so that people are prepared to deposit money with them for more than 24 hours."
As of 09:15 BST today, Barclays was the financial institution registering the largest dip on the FTSE 100 index, having fallen 4.24 per cent.
Posted by Greg Secker
