Private equity firms have started to show interest in taking some of the largest assets housed in Royal Bank of Scotland and Lloyds' non-core divisions. Lower down the value spectrum however, a period of stasis persists.

Earlier this week, US private equity firm Oaktree Capital Management acquired UK homebuilder Countryside Properties from Lloyds, with the UK bank committing to new five year debt facilities of £165m. In January, it sold Admiral Taverns, one of the UK's biggest pub groups, to private equity group Cerberus for around $200m.