IndyMac Bancorp, the second largest independent US mortgage lender, yesterday posted a $509.1m quarterly loss and indefinitely suspended its dividend, but said it expected to return to profitability this year. Financial Times
The fourth-quarter net loss compared with a profit of $72.2m a year earlier, and came after a $202.7m third quarter loss. For the whole of 2007, the lender lost $614.8m, the first annual loss in its 23-year history.