There’s one bank that may have something to gain if British people vote themselves out of the European Union next week. But in truth it will be disruptive, costly and damaging for all. With polls and betting odds moving toward Brexit, bank shares may still have further to fall.

UK banks stand on the front lines and will be hit by one of two problems: the first is the threat of losing access to European markets; the second is the pain of a weaker pound and the threat of higher interest rates, which look especially bad for highly indebted homeowners and landlords.