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25/03/2013
UKAR Repay Taxpayer £4bn In 2012
£4bn was paid back to UK taxpayers in 2012 by UK Asset Resolution (UKAR), the government-owned company incorporating Northern Rock (Asset Management) and Bradford & Bingley.
The repayment included £3.1bn of loan repayments and was up on the £2.8bn repaid in 2011, UKAR said as it announced its full-year results.
Adding that it saw the number of mortgages three or more months in arrears fall by 23% to 25,581.
However, the company still owes the Treasury £43.4bn.
UKAR chairman Richard Pym said: "We still have a long way to go, but it remains our expectation and determination to repay that debt in full."
(H)
The repayment included £3.1bn of loan repayments and was up on the £2.8bn repaid in 2011, UKAR said as it announced its full-year results.
Adding that it saw the number of mortgages three or more months in arrears fall by 23% to 25,581.
However, the company still owes the Treasury £43.4bn.
UKAR chairman Richard Pym said: "We still have a long way to go, but it remains our expectation and determination to repay that debt in full."
(H)
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