Northern Rock has confirmed it made a loss of £1.4bn in 2008.
The bank also said it was ahead of target in repaying the £26.9bn loan from the government, having reduced the amount it owed by £18bn to £8.9bn.
It also confirmed its plans to support government policy to increase mortgage lending, saying it would offer £14bn of new lending.
"Northern Rock has made good progress against the business plan objectives laid out in March 2008," it said.
No comments:
Post a Comment