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BoS squeeze on NatWest

Bank of Scotland is aiming to squeeze an extra £518m from National Westminster Bank, if it beats Royal Bank of Scotland in the ongoing £22.5bn takeover battle.

BoS is claiming the extra revenue can be achieved by opening new branches, cross-selling new products to customers and tailoring services to small businesses.

The forecasted extra revenue will be on top of the £1bn cost savings BoS is already projecting.

But Natwest chief operating officer Ron Sandler says: “The retail bank has undoubtedly left opportunities for cross-selling but we do not believe Bank of Scotland would achieve the revenue growth we can achieve ourselves.&#39


Abbey bumps up mortgage rate

Abbey National has become the fourth of the big lenders to raise its home loan rates by 0.25 per cent.The move follows last week&#39s 0.25 per cent interest rate raise by the Bank of England and the hiking of variable rates by Halifax, Nationwide and Cheltenham & Gloucester.Abbey says the rate for savers will rise […]

Autif competes for fund supermarket business

The Association of Unit Trusts and Investment Funds is claiming subsidiary EMX will give IFAs the ability to compete with financial supermarkets.EMX is the recently launched initiative to establish an electronic dealing and valuation system for the investment funds industry.Chase de Vere spokesperson Ian Millward says EMX will help the IFA deliver “real service” for […]

Isa rates give Tessas a beating

Investors are being warned the gap between Tessa and Isa returns is widening, by statistics provider Moneyfacts.Tessa rates offered by some high street bank have been outstripped by more than one per cent by their Isa replacements.Chase de Vere Investment adviser Janine Starks says Tessa rates are generally beginning to be taken over as providers […]

Pru reports strong life and Egg growth

Prudential is reporting strong growth in its life and pensions figures, as well as ongoing growth at internet bank Egg.Group-wide insurance and investment sales rocketed 61 per cent to £12.3bn in 1999, while total UK insurance and investment premiums also soared 61 per cent to £7.4bn.UK sales were showing an increase of 38 per cent […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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