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25/07/2001
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.
The move comes after the recent failure of a hostile takeover bid by Lloyds TSB, which was blocked by Trade Secretary Patricia Hewitt who said the deal would be against the public interest.
On Wednesday the Abbey National reported that pre-tax profits had increased to £1.06bn for the first half of the year, up from £922m last year and in line with analysts’ expectations. Abbey's shares have also outperformed the UK banking sector by around seven per cent so far this year.
Since the Trade Seceratry’s ruling, there has been speculation that the Abbey National would seek an overseas partner or prey on some of the smaller players in the UK banking sector.
Speculation has already focused on both the Allied Irish Bank and Bank of Ireland. (MB)
The move comes after the recent failure of a hostile takeover bid by Lloyds TSB, which was blocked by Trade Secretary Patricia Hewitt who said the deal would be against the public interest.
On Wednesday the Abbey National reported that pre-tax profits had increased to £1.06bn for the first half of the year, up from £922m last year and in line with analysts’ expectations. Abbey's shares have also outperformed the UK banking sector by around seven per cent so far this year.
Since the Trade Seceratry’s ruling, there has been speculation that the Abbey National would seek an overseas partner or prey on some of the smaller players in the UK banking sector.
Speculation has already focused on both the Allied Irish Bank and Bank of Ireland. (MB)
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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.
10 June 2002
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.
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.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
21 February 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 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.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
