The future for UK lender Cattles looks increasingly bleak after the company said it may have to take a further £850m of impairment provisions. Cattles has suspended six executives as it reviews its bad debt policies. A report from consultants Deloitte estimates the lender needs to make an extra £700m provision for potential impairment provisions relating to its £3.6bn loan book.

This entry was posted by Gwen Robinson on Thursday, April 2nd, 2009 at 4:59 and is filed under Capital markets. Tagged with cattles. Edit this entry.