Bradford & Bingley bank says suffers first-half loss
Time is GMT + 8 hours Posted: 29-Aug-2008 16:35 hrs
A branch of British mortgage lender Bradford & Bingley pictured in London, June 2008. Bradford & Bingley has said it endured a net loss of 17.2 million pounds in the first half of 2008.
British mortgage lender Bradford & Bingley said on Friday that it had endured a net loss of 17.2 million pounds (21.3 million euros, 31.4 million dollars) in the first half of 2008.
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The bank had posted profit after tax totalling 129 million pounds during the first six months of 2007.
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"In the light of the turbulence in the banking and housing sectors, the first six months of this year have been very challenging for B&B," chairman Rod Kent said in a group earnings statement. He described the results as "disappointing." — AFP
