The banking sector is looking confident for the coming months, with many planning to recruit new IT staff, say industry experts.

More than half of UK banks are planning to recruit new IT staff over the next six to 12 months, according to research from Eurobase People, the IT recruitment division of Eurobase International Group.

“The majority of banks and financial institutions are looking to enhance their business processes to generate additional revenue while remaining focused on cost reduction,” said Tom Fagan, sales and marketing director of Eurobase People.

The Eurobase study found that 24% of institutions expect to recruit new staff to support global expansion.

James Murphy, head of financial services technology at Imprint, has seen a growing air of confidence in the banking market in recent months.

“There are a lot of plans at the moment to recruit new IT staff,” he said. “Due to the market improving, it has freed up a lot more budget, and trading has become more solid.

“We have seen a lot more activity in regulatory areas, such as risk assessment, and with the [US] Sarbanes-Oxley regulations.”

Alain Cheenne, director for the Michael Page technology division, shares the optimistic City view.

“Candidates are confident about changing jobs,” he said. “When they feel it’s the right time to make a move, they are generally doing so.”