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References in periodicals archive ?
The figure excludes its charge for bad and doubtful debts, which increased by 9% or pounds 15m on a year earlier, but was down 28% on the previous half year.
Chief executive Lynne Peacock said: "While not immune from the historically high funding costs and increased bad and doubtful debts, we achieved strong revenue growth in the quarter.
The bank said that its charge for bad and doubtful debts increased by 83 percent in the first half.
"The charge for bad and doubtful debts has improved on the prior corresponding period, although trading conditions remain challenging for businesses and this is reflected in asset quality measures."
In the first half of this year Egg set aside pounds 428 million to cover bad and doubtful debts, up from pounds 288 million in the same months of 2005.
This year it has been set at 98.5% with 1.5% set aside for bad and doubtful debts.
Smith said ANZ was at the bottom of its bad and doubtful debts cycle.
THE owner of the Yorkshire Bank pledged to maintain its cautious approach to UK trading - despite an 11% rise in half-year profits and an improved trend on bad and doubtful debts.
The Royal Bank escaped the surge in bad and doubtful debts reported by some rivals by concentrating on mortgages and corporate lending where returns are lower, but so is the risk of a default.
Money set aside for bad and doubtful debts fell from 536m US dollars (pounds 283.3m) to 214 million US dollars (pounds 113.3m) or 60%.
At the interim stage, provisions for bad and doubtful debts rose from pounds 498m to pounds 713m, pounds 104m related to Argentina.