Submitted on Monday 31st March 2008

Northern Rock release results

Northern Rock have released their results for 2007 showing losses of £167.6m and reporting a payout to their former head Adam Applegate of £785k. The lender also outlined how it planned to repay taxpayers by 2010.

As a response to their previous position the future Northern Rock will only take 50% of its funding  from markets with the balance coming from deposits. 

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