Saturday, September 16, 2006

Bad debt is everywhere

Bad debts eat into Co-op profits

The rise in provisions for debts that have turned sour was almost entirely responsible for the fall in Co-op's profits in the first half of the year to £44.7m from £60.2m. Without a £58.2m provision against bad debts - up from £43m - profits would have been over £100m, the bank said.

Posted by uncle chris @ 10:38 AM (1755 views)
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