Nearly 70% of UK-based IT managers are looking forward to a more buoyant business climate towards the end of 2004, according to a new poll.

The survey of the views of IT and business managers within the financial sector was conducted by Eurobase Banking Solutions, a financial services software company. As many as 70% of banks are preparing for an eventual upturn and are planning on investing in IT over the next six months, although for 77% cost-reduction remains at the top of the agenda.