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Page last updated at 15:52 GMT, Thursday, 12 November 2009

Bank Shares and Sell Off

Two of the UK's biggest banks, Royal Bank of Scotland and Lloyds Banking Group, have been ordered by the European Commission to sell off hundreds of branches.

It's a major shake-up and some big names look set to disappear from our high streets.

Assets being sold off include: Royal Bank of Scotland branches in England and Wales; NatWest branches in Scotland; Lloyds TSB branches in Scotland and a smaller number in England and Wales; the Intelligent Finance internet operation; and mortgage broker Cheltenham and Gloucester.

The Chancellor, Alistair Darling has said that the creation of new players in the retail banking sector will benefit consumers.

Meanwhile Lloyds Banking Group is going cap in hand to shareholders to raise a massive £13.5billion.

We ask Justin Urquhart Stewart from Seven Investment Management and Ralph Silva, banking analyst at Tower Group, if the enforced sell off will improve customer choice.

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