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Beware the actuary peddling risk-free promises

In contrast, a good banker is instinctively nervous of the risks that can torpedo the loan book

Soon after graduation I was in a job but short of cash, so I asked my bank (Lloyds) for an overdraft. My branch manager invited me to visit and declined my request.

No matter what your prospects, he told me, you do not have a steady enough record as a depositor to qualify for a loan.

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