Northern Rock plc
Northern Rock: H1 2006 results
Mortgage lender Northern Rock reported that statutory pre tax profits rose 13.3% to £293.9m in the half year to June 2006.
The company announced stellar volume growth: gross lending rose 28.3% to £14.8bn while net lending rose 22% to £7.3bn; something of a record for the bank. The cost:income ratio is also said to have improved […]
Northern Rock: Q1 trading statement
Northern Rock, a bank that is primarily a mortgage lender, seems to be continuing with its aggressive lending strategy even as the housing market slows, according to its latest trading update.
The company said net lending in the first quarter of 2006 was 26% higher than last year which the bank said was due to increased […]
Northern Rock: FY05 results
Strong loan growth has seen Northern Rock report a 13.5% increase in statutory profits for the year to December 2005. Statutory pre tax profits rose by 13.5% to £494.2m.
The company has been lending aggressively, its share of UK gross mortgage lending rose 8.1% from 6.8% in 2004 last year. Net share of UK mortgage lending […]
Northern Rock: Trading statement
Northern Rock issued a surprisingly strong trading statement for the nine months to September 2005. The trading for the period was described as “strong” and the company seems confident of achieving asset growth of 20% (+/- 5%) and profit growth of 15% (+/- 5%) for the year.
Loan growth has been strong, with net lending for […]
Northern Rock: H1 Results
Northern Rock announced excellent results for the first half of 2005. Pre tax profits up by 45.4% to £294m. Net lending in the first half was a record £6bn (up 17.2%) and the bank’s share of UK net mortgage lending rose to 14.2%, from 11.2% last year. Total assets rose to £72.5bn - an increase […]
Northern Rock: Q1 2005
Northern Rock’s trading update for the quarter to March 2005 said trading performance was strong and in line with its target of achieving annual growth in assets of 20% (+/-5%) and profit growth of 15%(+/-5%).
Northern Rock
Northern Rock is a building society turned bank, which now operates as a specialised mortgage lender. Its core business is the provision of UK residential mortgages.
Strong lending growth in 2004 resulted in assets increasing by 24.9% to £64.9bn. The estimated residential net lending market share was particularly strong in the second half at over […]
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