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Bradford & Bingley deny rights issue rumours

Bradford & Bingley has denied reports that it is intending to issue equity capital through a rights issue.

The lender says it has a strong capital base which is above its regulatory requirements.

It says that as a result of the board’s conservative approach, it has funded its business activities through 2008 and into 2009.

B&B says the board will naturally continue to monitor closely the balance sheet strength of the business and its funding plans.

The lender will be releasing its Interim Management Statement on April 22.

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