Shares in British banks were mixed on the FTSE 100 in morning trading as concerns about the long term future of banking were raised again yesterday.

The Business Secretary, Vincent Cable, said yesterday to the BBC that he wanted to see an end to "offensively" large bonuses.

Mr Cable, who is known for his anti-banker rhetoric, also said a "radical" and "fundamental" change in the relationship between retail and investment banking is necessary.

His comments suggested support for a proposal to split retail banking from investment banking, a proposal which is being looked at by the government's Independent Commission on Banking.

By 10:10 shares in Lloyds Banking Group were down 0.61 per cent to 66.43 pence per share and HSBC shares declined 0.70 per cent to 709.00 pence per share.

However RBS saw its shares rise 0.70 per cent to 44.30 pence per share while Barclays shares increased 0.74 per cent to 313.40 pence per share.

Overall the FTSE 100 was flat at 6,032.22.

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