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Scottish Widows earnings up
PROFITS at Scottish Widows Bank rose 14 per cent last year to £38.2 million despite ongoing restraints in the mortgage and savings market, accounts released today show.
Total customer deposits rose 40 per cent to 3.8 billion despite Bank of England interest rates remaining at a record low. The bank said it was able to attract greater deposits by offering a range of fixed rate accounts and by targeting specific segments of the savings market. Graeme Hartop, managing director of Scottish Widows Bank, said: "Overall performance last year was strong."
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Friday 25 May 2012
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