HBOS reports significant losses
As it prepares to become part of the Lloyds Banking Group, UK bank HBOS has highlighted significant losses on its balance sheet as a result of declining property values.
The group said in the last six weeks it has seen an acceleration in the deterioration of credit quality and further sharp falls in estimated asset values. The group said recent pronounced falls in estimated valuations of property and other investments have impacted significantly on the value of its investment portfolio. The devaluation equates to an estimated loss of £0.8 billion for the 11 months to November 30 this year.
Recommended for you
In this episode of Relative Return Unplugged, hosts Maja Garaca Djurdjevic and Keith Ford are joined by AMP chief economist Shane Oliver to take a look at what can be learned from 2024 as attention turns to what markets will do in the new year.
Join us for a special episode of Relative Return Unplugged as hosts Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
In this special episode of Relative Return Unplugged, we are sharing a discussion between Momentum Media’s Steve Kuper, Major General (Ret’d) Marcus Thompson and AMP chief economist Shane Oliver on the latest economic data and what it means for Australia’s economy and national security.
In this episode of Relative Return Unplugged, co-hosts Maja Garaca Djurdjevic and Keith Ford break down some of the legislation that passed during the government’s last-minute guillotine motion, including the measures to restructure the Reserve Bank into a two-board system.
