Bad debts to take sparkle off HBOS record £4bn profit - 2004-02-22
Britain's biggest mortgage lender, HBOS, will this week report post profits of almost £4 billion, but set alarm bells ringing with a huge increase in bad-debt provisions to take account of doubtful loans.
Chief executive James Crosby has already said that the company is tightening lending criteria as interest rates head north, with economists predicting they could hit a peak of 6 per cent in 2005.
Read the full story at Observer