Summary
Northern Rock has predicted even higher profit growth despite returning record lending and saving figures and seeing earnings top pounds 500m for the first time.
The Newcastle-based mortgage bank topped expectations by revealing that underlying pre-tax profits grew by 14.3% to pounds 504.6m in the year to the end of December as it took its share of the market for new lending from 11.2% to 14.1%.See the full content of this document
Extract
Northern Rock Turns in Solid Performance
Gross lending rose 15.2% to a record pounds 26.9bn and net lending increased 12.6% to pounds 14.6bn as the Rock reported a return to the mark...
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