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21/02/2002
Abbey National report fall in pre-tax profits for 2001
In line with analysts' expectations Abbey National has reported a two per cent fall in pre-tax profits to £1.94 billion for 2001.
The company's profits were hit by a £256 million write-off in its business banking unit, due in part to Abbey National's previously announced £115 million exposure to the failed US energy trading giant Enron.
Abbey National narrowly escaped an acquisition attempt by Lloyds TSB last year.
Mark Pain, the bank's new managing director of wholesale banking, said that the performance had been "resilient", with record levels of mortgage lending and retail savings.
However, looking ahead, analysts are anticipating that weak economic growth coupled with low inflation was likely to make times increasingly difficult for the banking sector.
(MB)
The company's profits were hit by a £256 million write-off in its business banking unit, due in part to Abbey National's previously announced £115 million exposure to the failed US energy trading giant Enron.
Abbey National narrowly escaped an acquisition attempt by Lloyds TSB last year.
Mark Pain, the bank's new managing director of wholesale banking, said that the performance had been "resilient", with record levels of mortgage lending and retail savings.
However, looking ahead, analysts are anticipating that weak economic growth coupled with low inflation was likely to make times increasingly difficult for the banking sector.
(MB)
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10 June 2002
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Abbey National has warned that its profits will be considerably lower than expected this year because it has begun writing off debts in its wholesale banking division, which deals with loans to companies.
Abbey National issue profit warning
Abbey National has warned that its profits will be considerably lower than expected this year because it has begun writing off debts in its wholesale banking division, which deals with loans to companies.
25 July 2001
Takeover rumours grow as Abbey National’s profits rise
UK mortgage bank, Abbey National says it is open to offers after it reported a 15 per cent rise in profits to more than £1 billion for the first six months of this year.
Takeover rumours grow as Abbey National’s profits rise
UK mortgage bank, Abbey National says it is open to offers after it reported a 15 per cent rise in profits to more than £1 billion for the first six months of this year.
11 July 2001
GOVERNMENT BLOCKS LLOYDS TSB MERGER
THE Government has blocked Lloyds TSB’s £18.2bn takeover bid for rival Abbey National, saying that the merger would be against the public interest.
GOVERNMENT BLOCKS LLOYDS TSB MERGER
THE Government has blocked Lloyds TSB’s £18.2bn takeover bid for rival Abbey National, saying that the merger would be against the public interest.
26 July 2004
Abbey board agrees to £8.5bn takeover deal
The board of the Abbey National has agreed to a takeover deal from Spanish giant Banco Santander worth around £8.5 billion. Following to advice from Morgan Stanley, the Abbey Board said that it intended to "unanimously" recommend that its shareholders vote in favour of the scheme.
Abbey board agrees to £8.5bn takeover deal
The board of the Abbey National has agreed to a takeover deal from Spanish giant Banco Santander worth around £8.5 billion. Following to advice from Morgan Stanley, the Abbey Board said that it intended to "unanimously" recommend that its shareholders vote in favour of the scheme.
24 January 2012
Businesses Enter Ulster Bank Awards
Businesses have come out in force to highlight their good work in this year's Ulster Bank Business Achievers Awards. Almost 400 entries have been received for the prestigious scheme, with strong entry levels in categories such as 'International Business'; 'Best Business Start-Up'; and 'Innovation and Emerging Technology'.
Businesses Enter Ulster Bank Awards
Businesses have come out in force to highlight their good work in this year's Ulster Bank Business Achievers Awards. Almost 400 entries have been received for the prestigious scheme, with strong entry levels in categories such as 'International Business'; 'Best Business Start-Up'; and 'Innovation and Emerging Technology'.
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