Financial Times FT.com

A&L writedowns bigger than expected

By Gordon Smith

Published: May 13 2008 08:53 | Last updated: May 13 2008 15:07

Alliance & Leicester on Tuesday revealed a sharp fall in unsecured personal lending and a slowdown in its mortgage loans, as the UK bank revealed the impact of the credit crisis had risen to nearly £400m in the first four months of the year.

A&L said writedowns on Treasury assets and credit assets totalled £192m at the end of April, compared to £185m for the whole of last year.

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