How Confident Northern Ended Up On the Rocks ; Economics
Birmingham Post › September 15, 2007
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Summary
Northern Rock, the UK's fifth biggest lender, started 2007 in a confident mood over prospects for the year ahead, but has since been left over-exposed and under-prepared for one of the sector's biggest crises in recent years.
From kicking off the New Year with news of a better-than- expected 16.5 per cent leap in last year's profits, Northern Rock's fortunes have taken an unexpected turn for the worse.See the full content of this document
Extract
How Confident Northern Ended Up On the Rocks ; Economics
The Newcastle-based group yesterday became the UK's first high- profile victim of the credit market meltdown, capping what has already been a testing past six months for the group.
Its impr...See the full content of this document
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