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Article: Bank write-down fears begin to ease.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- August 14, 2008
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Byline: John Adams
ANALYSIS: Half-year results from the UK's banks revealed yet more huge write-downs, but sector analysts are beginning to think that the worst is over
The banking sector's half-year reporting season is now drawing to a close and it has clearly been a tough period for the UK's big lenders. Royal Bank of Scotland(RBS) reported its first loss in 40 years after writing off GBP5.9bn against its treasury book, Barclays' absorbed a further GBP2.45bn loss, HBOStook a GBP1.09bn hit and even the UK-focused Lloyds TSB- hardly a likely candidate for major treasury book pain - wrote-off GBP600m. And HSBC suffered more misery at its US sub-prime operation, ...