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Portman increases assets in 2000

Portman Building Society increased its total assets by 8 per cent to £6.8bn in 2000 from £6.3bn in 1999.

Performance in the savings market increased by 57 per cent with investors depositing £709m in 2000, up from £451m in 1999.

But gross residential lending fell 15 per cent to £1.2bn in 2000 from £1.4bn in 1999.

Portman chief executive Robert Sharpe says: “In spite of the competitive market, Portman has continued to grow. Our performance in the savings market has been nothing short of spactacular.”


Political points

Not a day goes past without another twist in the Equitable Life debacle. Now, in the lead-up to the general election, the Tories are threatening to make it a political issue, provoking conflicting responses among IFAs. In a debate in the House of Commons on the Equitable Life affair, Shadow Chancellor Michael Portillo criticised the […]

Equitable hands out 450,000 clients&#39 details

Equitable Life has been attacked by IFAs for releasing information about 450,000 of its policyholders to an IFA firm and its action group, amid fears it is violating the Data Protection Act. Bristol IFA Whitechurch Securities and the Equitable Policyholders&#39 Action Group have written to the policyholders asking for their support and offering to sell […]

Lowering the drawbacks on annuities

The troops have stormed the castle, the revolution is approaching its climax and the campaign to abolish the compulsion to buy annuities senses victory. But before we do away with the present system, it would be sensible to have something to replace it. Nobody has yet put forward a credible alternative. There are only two […]

ScotEq CD-Rom helps IFAs comply with drawdown rules

Scottish Equitable is issuing IFAs with a CD-Rom aimed at helping them meet regulatory standards on sales of income drawdown and phased retirement plans. The CD-Rom contains an electronic application form and helps the IFA check whether the sale is compliant. ScotEq says the CD-Rom is the first of its kind on the market and […]


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