Bank failure still hitting Abbey hard

Abbey National has reported a second consecutive annual loss after the former building society launched an unsuccessful attempt to become a high street bank.

Shares in the company dropped fell 66p (€0.99c) to £4.84 (€7.25) after it reported 2003 losses of £686m, (€1,027m) compared with a £947m (€1419m) loss in 2002.