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Abbey profits up 15 per cent

Abbey National has announced its profits are up 15 per cent to £1.06bn for the first 6 months of this year, from £922m last year.

The announcement comes a fortnight after trade secretary Patricia Hewitt blocked Lloyds TSB&#39s takeover attempt.

Abbey&#39s biggest growth area was in life insurance, with Abbey National Life posting a 31 per cent increase to £75m over the period.


Lloyds TSB profits fall

Lloyds TSB has announced an 11 per cent fall in interim profits, down to £1.8bn from £2bn for the first six months of the year.Performance in the banking sector fell but insurance profits rose 34 per cent to £792m from £591m, with life and pension product sales up 20 per cent to £395m from £270m.Lloyds […]

Outside Edge

In the wake of the UKPI collapse in the early 1980s it was suggested thatIFAs should seek copies of the provider&#39s DTI return before placingbusiness with it. Just for fun (I didn&#39t get out much then) I obtained a return andproceeded to try and glean some information. The provider which supplied it confirmed that all […]

Inscape – Inscape SIPP

Monday, 23 July 2001.Type: Full Sipp.Minimum investment: Lump sum £2,000, monthly £250.Investment choice: UK bonds, UK equities, European equitiesexcluding UK, Japanese equities, US equities, Pacific Basinexcluding Japan.Charges: Annual up to £49,999 – 0.75 per cent, £50,000 and above –0.25 per cent, minimum £50 maximum £500.Allocation rates: 100 per cent.Options: Income withdrawal, annuity purchase.Commission: None.Tel: 0845 […]

Credit Suisse looks to the stars

Credit Suisse Asset Management is heading for the stars with the introduction of the multi-manager constellation portfolio fund of funds.Constellation is a unit trust and will be the first product run by newly arrived fund managers Gary Potter, Robert Burdett and Kelly Prior. The trio used to manage the five arrows private portfolio series of […]

Directors, limited liability partners and auto-enrolment

By Jim Grant, Senior Product Insight & Technical Support Analyst 6 April 2016 brought in changes to employer duties for directors and partners in limited liability partnerships. Here we explain exactly what’s changed. Before 6 April 2016… Directors of limited liability companies where there were no other directors or employees were exempt from the employer […]


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