Midshires profits rise by 22%

Wednesday 26 August 1998 23:02 BST

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BIRMINGHAM MIDSHIRES, the building society set for takeover by the Halifax, has seen underlying profits rise by 22 per cent for the first half of 1998.

Strong mortgage business - gross lending rose by 24 per cent - boosted profits, but savings receipts fell by 40 per cent as last year's rush to join the society slowed. The society's 1 million members will receive windfall details by autumn and will vote on the Halifax bid on 11 December.

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Midshires profits rise by 22%

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