LONDON (Brand Republic) - Northern Rock has reported an increase in profits and a doubling in its lending during the six months to June 30. It has also reported an increase in online lending, which accounted for £250m of its total lending. The bank said it has a 7.8% share of the mortgage market. The boom in the property market is thought to have pushed lending up to £2bn during the six months compared with £974m the previous year.
Profits up at Northern Rock
Northern Rock has reported an increase in profits and a doubling in its lending during the six months to June 30.