Nat West sets banking first
NZPA-Reuter London The National Westminster Bank on Tuesday (early yesterday N.Z. time) became the first British bank ever to announce profits of more than £1 billion — cheering news tor a banking* sector worried by Latin American debt It announced pre-tax profits of £l.Ol billion for 1986, up 26 per cent on
£BO4 million In 1985. Bank stocks earlier led a retreat on Wall Street after Brazil said on Friday It was suspending interest payments to commercial bank creditors. Its share price rose 9p to 627 p on Tuesday moming. The other big banks, Barclays, Lloyds and Midland, also edged ahead Ip or 2p as Investors awaited their figures, due in the next few days.
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Press, 26 February 1987, Page 26
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119Nat West sets banking first Press, 26 February 1987, Page 26
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