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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.

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