As banks announced waves of layoffs in November during third quarter earnings reports, Financial News identified 9 1/2 reasons to remain cheerful about banking ahead of the festive season.

The news has been unremittingly grim for much of 2011, with banks struggling to meet earnings targets as uncertainty about economic recovery continues to depress activity in the industry. Financial News set about trying to dig out 10 reasons for bankers to be cheerful ahead of the festive period. It wasn't easy....