3rd Jun 2014 11:32
LONDON (Alliance News) - UK Asset Resolution Ltd Tuesday said it returned GBP6.2 billion to taxpayers over a period of fifteen months.
In a statement, UK Asset Resolution, which is winding down Bradford & Bingley PLC and Northern Rock Asset Management PLC, now known as NRAM, said it has repaid GBP10.4 billion of government loans since October 2010.
Mortgage accounts three or more months in arrears, including possessions, have fallen by 39% to 15,483 since December 2012, according to UK Asset Resolution.
"The board is looking to the future and continues to keep under review options for accelerating the repayment of government debt and realising value from the operational expertise that has been developed. A lot of good work has been achieved to date and we expect to repay the remaining GBP38.3 billion debt in full," UKAR said in a statement.
UKAR is managed by UK Financial Investments Ltd, which also looks after the government's interests in Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC.
By Samuel Agini; [email protected]; @samuelagini
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