Northern Rock expects to break into profit, despite £78.8million half-year losses

Northern Rock insists it will be profitable.
Northern Rock insists it will be profitable.
0
Have your say

NATIONALISED lender Northern Rock said it expects to make a profit during next year after reporting reduced half-year losses today.

 The bank also confirmed it had received indicative offers from interested parties since Chancellor George Osborne announced his decision to put Northern Rock up for sale in June.

 The lender reported underlying losses of £78.8million in the six months to June, compared with losses of £140million the previous year.

 Northern Rock was nationalised in February 2008 after it collapsed amid the credit crisis.