Banking Abbreviations

per annum, yearly

Greenwich Mean Time; Universal Time Coordinated (UTC)

ante meridiem (before noon)

Value Added Tax - a tax on goods and services

means exactly as it sounds, "I Owe You." It is an acknowledgement of a debt.

Pay-as-you-earn - the term used to describe the deduction of income tax from employees' pay by their employer

Swiss Franc

managing director

chief executive officer

public limited company