In These New Times

A new paradigm for a post-imperial world

UK banks sitting on £40bn of undeclared losses

Posted by seumasach on June 7, 2012

Telegraph

5th June, 2012

PIRC, the shareholder advisory group, has analysed the 2011 accounts of the UK’s top five banks to calculate how much they expect to write off as bad debt in the coming years but have yet to take against profits.

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