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Article: Niche products help Scottish Widows Bank pass GBP 1bn mortgage lending mark
- Article from:
- The Scotsman
- Article date:
- March 10, 2007
- Author:
CopyrightCopyright 2007 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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SCOTTISH Widows Bank has passed through the GBP 1 billion mark for
annual mortgage lending, on the back of the development of its
targeted niche products.
The Edinburgh-based bank, which is part of Lloyds TSB, registered
net mortgage lending growth of GBP 1.03bn in the 12 months to 31
December, up 23 per cent on its 2005 figures.
Managing director Graeme Hartop said: "We are showing good levels
of growth, not only in profitability terms, but also in balance sheet
growth, having built up strong relationships in the intermediary
market."
Net deposits increased by 8 per cent to GBP 195 million.
The telephone-based bank had its 12th successive year of growth,
with pre-tax profits up by 18 ...