Thursday, March 10, 2011
Here’s a hot potato; catch!
Northern Rock's executive chairman stoked expectations of an imminent move out of public ownership yesterday when he said the bank did not need to make a profit before returning to the private sector. Ron Sandler made his comments as the bank posted a loss of Â£232m for last year. He said a clear return to profit would be a benefit in attracting investors but that if it was on track for profit, that could be enough for a move out of nationalisation.