NR Set To Publish £500m

planemad

Losses

http://news.bbc.co.uk/1/hi/business/7542102.stm


According to BBC news NR are set to publish £500m losses since public take over.

I wonder if they planned for figures to be like this, this is the biggest losses publishes so far by the UK institutions (although they had high exposure).

Still 100% safe thought whilst the tax payer shareholder own it.

greco_2

Actually turned out to be nearer £600m. They're also getting another £3bn of taxpayers money, arrears and repos are rising (surprise, surprise) so it may well get worse.

nicko33

greco wrote: »

They're also getting another £3bn of taxpayers money

Depends how you look at it

"The money for the cash injection will come by pausing repayments of the giant taxpayer loan made to the bank"

it's a delay of repayment, not giving it an extra £3bn over and above what has already been loaned.

and it has managed to "repay £9.4bn of a loan from the Bank of England"

and surely it's "public" money, not "taxpayers" money

greco_2

Public money, taxpayers money. No difference that I can see.