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Wednesday 21 September 2016 2:18 pmHow this challenger bank used the Brexit vote as an opportunity and broke even in less than a yearBy: Hayley KirtonShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleNew company fo stanley cup uk unders are frequently told to plan to spend their first few years lang polene espana uishing in the red.Nowone challenger bank has proved it is possible to buck the trend, and the recent Brexit vote may have given it a nudge in the right direction.OakNorthBanktoday revealed it has broken even and inched into profitability, less than a year after it first began taking deposits and lending.The specialist lender also waved away the sector s Brexit vote concernsby revealing it has closedover pound;100m in debt finance deals since 24 June and doubledits loan book to over pound;200m. Read more: More than a third of corporate debt is now with challenger banks I think Brexit vote] has actually played positively for us because fundamentally what happens is the larger banks slow down their rate of lending and, therefore, that just creates a further friction point for businesses, Rishi Khosla, chief executive and co-founder of OakNorth, told City A.M. We have had situations where businesses have been in the last stages of getting approval and then the hi owala deutschland gh street bank they ve been working with has just gone mute on them. OakNorth also announced today it was looking to expand its offeri Mftp Playtech bets pound;50m on bingo specialist Eyecon as it looks to bolster content
Thursday 14 February 2013 3:34 am|Updated:Thursday 30 May 2019 3:47 amRio Tinto plunges to $3bn full-year lossBy: Cathy AdamsShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleRio Tinto chief executive Sam Walsh promised to cut costs and spend capital more carefully, as the miner slumped to a full-year loss of $3bn pound;1.9bn .Walsh, who was appointed chief executive as former boss Tom Albanese resigned on a $14.4bn write-down on failed acquisitions, said the company would have an unrelenting focus on pursuing value for share owala cup holders.Over the full year, Rio Tinto plunged to a loss of $2.99bn, a drop of 151 per cent from 2011rsquo profit of $5.83bn, reflecting the write downs on its Alcan aluminium takeover in 2007 and a coal acquisition in Mozambique.Underlying earnings over the full year fell 40 per cent to $9.3bn, on the back of weaker commodity prices. Despite the lower result, Rio Tinto pledged a 15 per cent rise in the dividend to $1.67 a share. Share this article owala FacebookXLinkedInWhatsAppEmailSimilarly tagged content: SectionsNewsCategorie stanley de sBusinessTrending ArticlesLabour will regret the Rentersrsquo; Rights ActUK at lsquo;greatest riskrsquo; of jet fuel shortage as flights to be cancelledJet fuel shortage looms as government scrambles to secure suppliesAfter Santanderrsquo TSB takeover ndash; who are the top players in UK banking Clairersquo Acc