The new Northern Rock retail bank, born from the ashes of the original lender which was Britain’s first major credit crisis casualty, posted a maiden loss on Tuesday and saw deposits plunge by a tenth. State-owned Northern Rock, which manages new mortgages and savings, posted a loss of £140m ($216.5mn) for the six months ending June, due partly to costs for its spin-off from the original company.
New Northern Rock retail bank posts maiden loss
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