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January lending hit £16.6bn

The British Bankers’ Association says gross mortgage lending was £16.6bn in January, a 15% increase from January 2006.

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Scarborough buys out Portman offshore business

Scarborough has outright bought Portmans Guernsey based offshore deposit-taking business Portman Channel Islands.PCIL has a deposit book of around 600m and approximately 8,000 customers. The transaction is expected to be completed by the end of April 2007, subject to the necessary regulatory approvals.Following a strategic review of Portmans approach to retail deposit-taking, which was announced […]

Marketwatch

Swaps continued to fall last week. Who knows, maybe we will start to see a few fixed rates coming down. Swaps have managed to edge down about 0.18% since their peak towards the end of January.

Compass becomes Debt Adviser Group

Debt solutions specialist Compass Finance Group has changed its name to The Debt Advisor Group.The company’s change of name was approved by shareholders at its annual general meeting on February 23. The change of the company’s name has been implemented to reflect the range of products and services provided by the Group.Mike Sutcliffe, chief executive […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.

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