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Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK.
Sep 11, 2017 · Northern Rock's demise - it was split into "bad" and "good" sets of assets and operations, with Virgin Money buying the latter - was a shock to the region's economy, as was the banking crisis...
Northern Rock shares rose by 16% after this was announced. Stabilisation. The announcement by the chancellor showed its intended effects the next day, as the queues outside Northern Rock's branches gradually disappeared.
But his decision to back the company by investing in shares of Northern Rock, a seemingly steady retail banking powerhouse based in the north-east of England, proved disastrous.
Sep 11, 2017 · How the former building society became the fourth biggest bank in the UK and then faced a run on its savings in 2007. The BBC looks back at the causes, consequences and lessons of the crisis that triggered the global financial crash.
Northern Rock’s successes as a bank made it emblematic of the revitalization of the northeast region following the decline of traditional industries, such as coal mining and shipbuilding.
May 16, 2024 · A group of former Northern Rock shareholders claims their shares were "effectively stolen" when the bank was nationalised in 2008. They ask the Treasury Select Committee to determine how much the government made from selling the bank's assets and redistribute the money.
