HBOS could sell assets

Britain’s biggest mortgage lender HBOS has said that it is considering selling some asset after it reported profits halved in the first six months of the year due to credit crunch related problems.

Analysts detected no major shocks in the results, and said profits beat expectations, costs appeared under control and the bank’s shares had already been hit hard.

HBOS said it would consider selling assets if the right price was offered but would not comment on whether that meant its Australian operation Bankwest was for sale.

HBOS shares jumped more than seven per cent.

Copyright © 2012 euronews