1st Aug 2014 14:35
LONDON (Alliance News) - NBNK Investments PLC Friday said it swung to a pretax loss in its first half, as administrative expenses increase following restructuring.
The company was established to try and launch a new UK retail and SME banking and savings operations but since a restructure in January is focused on potential targets in the financial services sector, including in Continental Europe.
NBNK posted a pretax loss of GBP102,000 for the six months ended June 30, from a pretax profit of USD136,000 the previous year.
The company only achieved GBP25,000 in income during the period and it posted GBP128,000 in administrative expenses. It made no acquisition developments during the period.
NBNK shares were untraded at 46 pence on Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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