Tuesday, February 26, 2008

Nearly put my money into this lot. It’s a minefield out there!!

London Scottish Bank scraps dividend as losses hit £16m

London Scottish, which has been in discussions with the City's top watchdog the Financial Services Authority (FSA) over its capital base for five months, said that it had a capital shortfall of £12.7 million on January 1. It has been ordered by the FSA to increase reserves dramatically, but said today that it has agreed a plan, which will mean selling parts of the business, reducing lending volumes, scrapping the dividend and seeking alternative funding

Posted by cheekie charlie @ 01:04 PM (512 views)
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