Northern Rock benefits from HBOS takeover

This time last year Northern Rock was fast becoming known as one of the first major victims of the global credit crunch in the UK, with rumours that it was on the verge of collapse and savers rushing to withdraw billions of pounds in savings within a few days. The bank became the victim of the first run on a British bank in nearly one hundred and fifty years. Earlier this year Northern Rock was nationalised as a result of the problems that it had experienced. Read more

Tags: hbos, billions, government, government owned bank, lloyds tsb, northern rock, place, immediate fears