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HBOS PLC full-year profit rises 3.8 percent

HBOS PLC full-year profit rises 3.8 percent

HBOS PLC, Britain's biggest mortgage lender, reported Wednesday that profit rose 3.8 percent in 2007 compared with the previous year, despite taking a write-down of 227 million pounds (euro301 million; US$447 million) on investments.
The company, parent of Bank of Scotland and Halifax, reported net profit of 3.93 billion pounds (euro5.2 billion; US$7.74 billion), up from 3.82 billion pounds in 2006.
The write-down figure was up from 180 million pounds announced in December.
The company also reported paying out 135 million pounds (euro179 million; US$266 million) in insurance claims due to summer floods in Britain.
"Credit experience remained relatively benign throughout 2007," HBOS said.
"In common with industry expectations going forward we expect some modest deterioration in certain sectors and markets, consistent with the general global economic slowdown."
HBOS is Britain's sixth largest bank by market capitalization.
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http://www.hbosplc.com


Updated : 2021-07-30 16:02 GMT+08:00