The UK Independent Commission on Banking today said its initial findings on how to promote choice and stability in the UK banking sector will be published in an interim report on April 11, in a document that is expected to signal final recommendations it will make to the government in September that could include a break up of the country's banks.

The government-appointed body said it met on Monday to consider a draft of the report and agreed it would be ready next month. It started conducting a review of the sector last year, with a mandate to identify potential structural reforms and other measures to encourage competition and financial stability.