London Scottish Bank struggles.
Investors Chronicle - magazine and web content, January, 2008
Full year results have been postponed until next month Jonas Crosland
Sub-prime lender London Scottish Bank (LSB) has confirmed that it will have to book an additional GBP21.6m against bad debt, and is still in discussions with the Financial Services Authority over plans to plug a gap in its regulatory reserve requirements.
One possible outcome is a reduction in lending volumes. Meanwhile, its Robinson Way debt collection division continues to purchase debt portfolios.
LSB's woes are already well known, and the shares have fallen 80 per cent in less than a year to 27p. Fairly priced.
FairlyPriced
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