The UK’s decision to leave the European Union will increase compliance costs and damage financial markets on both sides of the split, capital markets bankers in Britain say – but most expect London to remain the financial centre of Europe.

Close to three-quarters of executives at UK-based banks think that London will still be the continent's financial centre in five years, according to a November 2 survey published by consultancies Synechron and Tabb Group, which surveyed 80 individuals in September.