Jeremy Warner's Outlook: HBOS doesn't look like a bank in crisis

[Legal Beagles]

There was nothing much wrong with the HBOS figures announced yesterday. The write-offs were a bit bigger than trailed, while higher funding costs have further compressed the net margin. Yet underlying profits remained relatively robust, albeit with strong growth in corporate lending and fees compensating for a quite sharp fall in earnings from the core mortgage and deposit-taking business.


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