home equity loan uk
(AFX UK Focus) 2006-07-18 11:56 GMT: National City 2Q profit down
CLEVELAND (AFX) - Regional banking giant National City Corp. on Tuesday reported lower second-quarter earnings, compared with a year-ago period helped by large mortgage servicing hedging gains.
Net income fell to $473 million, or 77 cents per share, from $625 million, or 97 cents per share, a year ago. The company said the latest quarter included net hedging losses, compared with last year's large mortgage servicing hedging gains.
Excluding hedging results, National City said earnings were up sharply compared to the prior year, driven by strong performance in its retail, small business, and corporate banking units. On average, analysts were looking for net income of 73 cents per share, according to a poll by Thomson Financial.
Net interest income totaled $1.17 billion, about flat with year-ago results.
More home equity loan uk info
Kensington Bad Debt Doubles in Fiscal First Half (Update1)
July 12 (Bloomberg) -- Kensington Group Plc, which lends to borrowers with below-average credit records, said bad debts doubled in its fiscal first half, even as profit increased 24 percent. The shares plunged as much as 11 percent.
Bad debts at the company jumped to 24.5 million pounds in the six months to May 31, from 11.3 million pounds a year earlier. Net income advanced to 21 million pounds ($38.8 million), or 40.3 pence a share, from a restated 17 million pounds, or 33.8 pence a share, a year earlier, the London-based lender said today in Regulatory News Service statement.
``We do not expect market conditions to get any easier during the rest of the year,'' Chief Executive Officer John Maltby said in the statement.
Kensington shares fell as much as 11 percent to 910 pence, the biggest decline since Dec.