Friday, Feb 22, 2008
Bank's doing nicely
Evening Standard: Lloyds TSB dodges crisis
Britain's fifth-largest bank has nailed its colours firmly to the retail market. That helped push up profits by 6% last year to £3.92 billion with a relatively modest £280 million loss on its involvement in subprime-related investments.
Posted by yoyo1 @ 02:20 PM (314 views) Add Comment
2 Comments
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1. paul said...
Wow I bet they're glad their offer for The Crock wasn't accepted now - talk about a lucky escape!
Still don't expect the Evening Standard to point this out ...
2. Cheekie Charlie said...
I find alot of these banks that have claimed to have escaped the worst somewhat suspect. And if anything the subprime debacle in the US has served mainly as a diversion with the pretence that all is well and healthy in all other area's. The fact that the US is 18 months ahead of us in the economic cycle and that there economy, at the face of it, is alot more balanced than ours(masterpiece of understatement) makes for the UK living in a state of denial. And yet this fools paradise means we all will suffer the consequences.