HBOS writes down housebuilding stakes

July 1, 2008
Concerns have been mounting over HBOS’s exposure to the property sector through its investment and mortgage arms, as the bank has undertaken a £4 billion rights issue – priced at 275p per share – to raise cash to cover asset write-downs and mortgage arrears.HBOS’s arrears book rose by 17% in the first five months of the year according to its …

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