UK mortgage lender, Alliance & Leicester (A&L), has announced that half-year profits have nearly been wiped out after taking a £209 million hit on risky assets and higher funding costs. Pre-tax profits for the first half of 2008 plummeted to £2 million, compared with £290 million in the same period of 2007. The worldwide credit [...]
Half-year profits at A&L almost wiped out
