UK lender in profits warning

Mortgage lender Northern Rock confirmed today that it had agreed emergency funding from the Bank of England after being rocked by the credit crunch in financial markets.

UK lender in profits warning
Fri, 14 Sep, 2007 - 09:02

Mortgage lender Northern Rock confirmed today that it had agreed emergency funding from the Bank of England after being rocked by the credit crunch in financial markets.

The UK’s fifth biggest mortgage lender said its 2007 profits would be more than £100m (€146m) lower than expected this year.

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