留学生Essay写作—诺森罗克与HBOS的财务状况比较.docxVIP

留学生论文专业定制代写网站 专业提供留学生各类essay定制写作服务 留学生Essay写作—诺森罗克与HBOS的财务状况比较 The topic I have chosen for my Research Analysis Project is“Analysis of Financial Situation of NORTHEN ROCK plc with comparison to HBOS plc”for the year Ended 2006,2005&2004. 1.2 CONTEXT Global Economy is indicating that we are moving towards recession,which affected the customer confidence and buying power.Even though the Bank of England Base Rate has been rising,it remains relatively low by historic standards.Long term unemployment remains low and we continue to see stable levels of economic growth. 1.2.1 We expect house price inflation to moderate,and we continue to see little prospect of a severe house price correction,given that mortgages remain comparatively affordable.High street banks&financial institutions used heavy marking strategies to gain the customers confidence. Northern Rock is currently the 5th largest UK mortgage lender,and the largest financial institution based in the North East of England.Northern Rock ran into liquidity issues in late 2007,(http://www.lse.co.uk) 1.2.3 Northern Rock Building Society was formed on 1 July 1965 as a result of the merger of Northern Counties Permanent Building Society(established in 1850)and Rock Building Society(established in 1865).Northern Rock Building Society then merged with a number of small local building societies and,prior to its conversion to a public limited company in October 1997,was an amalgamation of 53 societies. 1.2.4 A significant development in the recent history of Northern Rock was its conversion on 1 October 1997 from a building society to a public limited company,listed on the London Stock Exchange and authorised under the Banking Act 1987.The conversion also resulted in the establishment of The Northern Rock Foundation,a charitable body which is entitled to receive approximately 5%of the annual consolidated profit before tax of Northern Rock plc. MORTGAGE&FINANCIAL INSTITUION SECTOR 1.2.5 A mortgage is a method of using proper