Alliance & Leicester denies rumours

Alliance & Leicester denies rumours

Alliance & Leicester, Britain's fourth biggest society, firmly denied it was in talks to sell to a bank, as it unveiled profits for last year up by over a third. A&L's pre-tax profits of £284m were up 39 per cent on the 1993 figure of £204m. This improvement was driven by a 77 per cent collapse in bad debts to £29m from £126m.