Shares in challenger bank Shawbrook plunge on loan irregularities

Specialist lender stuns the market by saying it has uncovered a problem in its asset finance businessIrregularities uncovered in one of the operations of Shawbrook will knock the profits of the challenger bank and force it to take an unexpected £9m bad debt charge.The unscheduled trading statement stunned the market, sending shares in the group 26% lower when trading began, to 120p. Shawbrook shares had already been caught up in the market rout following the Brexit vote, losing 45% of thei