Alex Potter

Scholar abroad

Dalhousie News (Free subscription) | 25/08/2008

Haligonian Alex Potter to study at Oxford University in the U.K., then at American University in Washington, D.C.

Bradford & Bingley posts loss of £26.7m

The Herald (Free subscription) | 30/08/2008

... the lender's losses."B&B results were little short of appalling, but this was expected," analyst Alex Potter at Collins Stewart said in a research note, adding the earnings outlook was "very weak".Bradford & Bingley concluded a rights offer to raise £400m this month, the third attempt in as many months after late mortgage repayments surged. Nearly 80% of B&B's shareholders refused...

• Mortgage fraud adds to Bradford & Bingley's woes - The Guardian

Home arrears for B&B

icWales (Free subscription) | 30/08/2008

... financial turmoil.The results, described as “little short of appalling” by Collins Stewart analyst Alex Potter, cap a turbulent six months for B&B.Mr Potter said: “Looking forward, the guidance is for margins to continue falling and arrears to continue rising. The earnings outlook is very weak.”The lender’s finances have been battered by the credit crunch, it has lost its chief...

• £26.7m loss as B&B crashes into red - Metro.co.uk
• Bradford & Bingley in to red - The Sun
• See the 10 articles on the same subject

The Week Ahead - B&B hopes it can draw a line under recent woes

Scotsman.com (Free subscription) | 26/08/2008

... to £115.3 million and a six-fold rise in bad debt charges.Collins Stewart banking analyst Alex Potter warned: "Buy-to-let and self-cert lending comprise around three-quarters of B&B's loan book and these remain unproven in a downturn."The first half also saw the resignation of chief executive Steven Crawshaw in June due to ill-health, and a botched attempt to shore up its balance...

Profits-dive predicted for ailing mortgage lender

icWales (Free subscription) | 25/08/2008

... than two-thirds to £115.3m and a six-fold rise in bad debt charges.Collins Stewart banking analyst Alex Potter warned: “Buy-to-let and self-cert lending comprise around three-quarters of B&B’s loan book and these remain unproven in a downturn.”The first half also saw the resignation of chief executive Steven Crawshaw, who stepped down in June due to ill-health, and a botched attempt...

HBOS first-half profit falls 56%

CNNMoney.com (Free subscription) | 31/07/2008

... said its subsequent cautious approach to lending had slowed asset growth.Collins Stewart analyst Alex Potter said that the cautious outlook statement was expected, adding that the bank's corporate investments appeared relatively undamaged and that the stock is "materially undervalued."HBOS chief executive Andy Hornby said that HBOS' recent 4 billion pound (US$7.9 billion) rights issue...

Pressure grows on Hornby as HBOS woes mount amid plunge in profits

Scotsman.com (Free subscription) | 28/07/2008

... relating to the battered housing market, with repossessions set to rise.Collins Stewart analyst Alex Potter said: "Earnings will be far less closely watched than movements on write-downs, as well as management's willingness to engage in self-help."Another analyst said: "Arrears are rising and that points to a big upswing in foreclosures further down the line."Ironically, given that...

Sub-prime storm has ended sunshine spell for the banks

The Telegraph (Free subscription) | 28/07/2008

... credit crunch is past the worst, the impending recession is not," notes Collins Stewart analyst Alex Potter. "I'm not even bothering with estimates because the earnings guidance is so non-existent. The consensus for full year is all over the place."Much of the negative sentiment has already been priced into bank shares, he says. Indeed, even after a small rally last week, HBOS shares...

Banks set for fragile balance sheets

The Guardian (Free subscription) | 28/07/2008

... HSBC, due next week, could slump 30% to between $9.4bn (£4.7bn) and $9.6bn, analysts said.However, Alex Potter, analyst at stockbroker Collins Stewart, believes the banks' profits will be a side-show. He said: "This results season is likely to be characterised by a myopic obsession with the balance sheet and capital ratios, an acknowledgement that, even if the credit crunch is 'past...

Anemic HBOS Offering May Hurt Other Banks

DealBook (Free subscription) | 22/07/2008

... “There are some firms that would still benefit from a rights issue, but it’s a little late now,” Alex Potter, a bank analyst at Collins Stewart in London, told The New York Times. “If any firm gets into trouble now, it will be much more difficult and expensive to raise capital.” Banks have tapped investors to raise capital after about $417 billion of write-downs on assets linked to...

Rights-Issue Fatigue For HBOS

Forbes (Free subscription) | 21/07/2008

... news and an indication of quite how little the market thinks of HBOS," said Collin Stewart analyst Alex Potter. HBOS priced the new shares at 275 pence ($5.49), a 45.0% discount to the value of its shares on April 29, the day the rights issue was announced; its shares have fallen sharply since. Last week, as financial markets were of Fannie Mae and Freddie Mac, HBOS's shares even...

Poor Turnout For HBOS

Forbes (Free subscription) | 21/07/2008

... bad news and an indication of how little the market thinks of HBOS," said Collin Stewart analyst Alex Potter. It reflects in part the growing fatigue among investors, after banks across the world have gone cap in hand to shareholders following $350 billion in write-downs linked to the collapse of the American mortgage market. HBOS priced the new shares at 275 pence ($5.49), a 45.0%...