$1 trillion shifted out of Britain due to Brexit

Baku. 8 January. REPORT.AZ/ Brexit hasn't happened yet but it's already shrinking the United Kingdom's financial services industry, Report informs citing CNN.

Banks and other financial companies have shifted at least £800 billion ($1 trillion) worth of assets out of the country and into the European Union because of Brexit, EY said in a report published Monday.

EY has tracked 222 of the biggest UK financial services companies since the Brexit referendum in June 2016.

"Our numbers only reflect the moves that have been announced publicly," said Omar Ali, head of financial services at EY. "We know that behind the scenes firms are continuing to plan for a 'no deal' scenario."