View more on these topics

Sun Bank announce record profits


Sun Bank has announced record new business levels for 1998 with profits up 19 per cent to £3.3m.


The banking operation of the Sun Life of Canada group showed increased profits of 19 per cent to £3.3m. Assets under management has also increased 13.5 per cent to £807m.


Other highlights included an increase in new residential lending of 60 per cent up to £161m from £102m. The residential mortgage book increased 15 per cent to £620m.


Customer deposits also saw a significant increase up 29 per cent on 1997 to £592m.

Recommended

ScotAm attacked for locking 500,000 in low-performing funds

Scottish Amicable is under fire from IFAs for locking nearly 500,000 policyholders into poor-performing funds.It linked up with six external fund managers in February this year after years of dismal performance from its own fund managers.But only regular-premium policyholders since February 1998 and single-premium policyholders since September 1998 will be allowed access to the new […]

IFAA and Institute of Financial Planning appoint head of education

The IFA Association/ Institute of Financial Planning alliance has appointed Mike Leming as head of education. Leming is charged with promoting professional standards and qualifications in the IFA sector. He will focus on raising awareness of the IFP&#39s Certificate of Financial Planning. The former IFAA technical manager will also be responsible for increasing the membership […]

Canada Life appoints Hepher

Michael Hepher has been appointed non-executive director of Canada Life.Hepher is a former chairman of Charterhouse and group managing director of British Telecommunications. He will also continue in his role as a non-executive director of Kingfisher.Canada Life recently announced proposals to demutalise by early 2000.The company is the fourth largest Canadian mutual life office and […]

Aberdeen High Income Trust gains shareholder approval

The Aberdeen High Income Trust has gained shareholder approval for a new £20.6m share offer and placement.Shareholders gave the go-ahead to the plans at an extraordinary general meeting held this week. The share issue will see ordinary shares priced at 120.4p each and a placement of £7.5m debenture stock.Aberdeen believes the proposals will lead to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment