The financial services sector saw a marked increase in business volume according to the latest quarterly survey by the CBI and PricewaterhouseCoopers (PwC).
The survey showed volume growing at the fastest rate for two and a half years, which the companies say signals the sector's recovery.
Although business levels are still below normal, significantly they are back to their pre-September levels.
General insurance firms, banks and building societies reported the greatest volume increases for the last three months.
PwC UK banking leader John Hitchins said: "This latest survey shows that despite strong recovery in profitability and an increase in IT investment plans in recent months, businesses remain cautious about the outlook.
"The industry is nervous about the overheated housing market and those sectors more heavily geared to the stock markets reported lower business confidence as a market recovery failed to materialise."
