MBNA Europe Bank Ltd made a pre-tax loss in the year to 31st December 2008 of £43,594,000. Not that the Director's report spells this out. Whilst it is usual to mention the pre-tax figure, this year MBNA has chosen to refer to the profit after tax, which amounts to a relatively modest £1,200,000, due to a large tax credit.
Provision for bad and doubtful debts for 2008 amounts to an eye-watering £1,061,635,000.
Is this a record?
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