Thursday 24 July 2014
Northern Rock

UK 'bad bank' repays $3.4bn to govt

The British 'bad bank' running down the loans of bailed-out lender Northern Rock repaid £2.1 billion ($3.4 billion) to the government last year after its annual profits more than doubled as fewer home-owners had trouble with repayments.


New bank may join Northern Rock bid

New British bank venture NBNK is interested in joining the bidding for state-owned lender Northern Rock, sources said. The move raises the possibility that NBNK could combine Northern Rock with around 630 Lloyds bank branches it is also ey


UK 'planning to sell Northern Rock'

State-owned British bank Northern Rock will be sold before the end of the year, the Sunday Times newspaper reported. The British government, which has pumped billions of pounds into troubled banks since the credit crunch erupted in late 20


N Rock to cut 2,000 jobs, shrink assets by $100bn

Northern Rock plans to cut 2,000 jobs and shrink its lending book by 50 billion pounds ($101 billion) as it seeks to comply with European rules for its state rescue and repay billions of pounds of taxpayers' money. Britain's biggest casual


Britain nationalises Northern Rock bank

Britain has nationalised Northern Rock abandoning a five-month attempt to snare a private sector buyer for the ailing bank and piling more pressure on Prime Minister Gordon Brown. Once Britain's fifth-largest mortgage lender, it has borrow


UK guarantee assures savers

The British government has given customers of besieged lender Northern Rock an unprecedented guarantee that their savings were safe, while Australia's central bank denied speculation on Tuesday that banks there had sought emergency funds.

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