The Government took further steps to shore up Northern Rock’s balance sheet today after the lender unveiled half-year losses of almost £600 million.
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NORTHERN Rock today announced losses of £585.4 million for the first half of this year as the number of customers falling behind with mortgage payments jumped sharply.
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BANKING giant HSBC said yesterday that the most difficult financial markets “for several decades” had knocked more than a quarter off profits in the first half of 2008.
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ALLIANCE & Leicester Commercial Bank’s performance provided a rare highlight for the group which yesterday said the credit crunch turmoil had almost completely wiped out profits in the first six months of the year.
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