No move for Rock – B&B

6:21pm Wednesday 19th December 2007

Bradford & Bingley has refuted suggestions that it is to acquire assets of the crisis hit Northern Rock bank as part of a rescue package.

It had been mooted that the mortgage lender would take on a proportion of Northern Rock's mortgage business.

But a bank spokesman yesterday said the firm had no such plans at "this time".

She said: "Bradford & Bingley was one of several parties that received a copy of the Northern Rock briefing memorandum.

"We are not actively pursuing a bid for any part of Northern Rock at this time."

Last month B&B, which provides mortgages and saving products, said it had been "resilient and resourceful" during the credit crisis affecting the banking industry.

Group chief executive Steven Crawshaw said at the time: "We are now even better placed to take advantage of opportunities in our market."

In a recent briefing, B&B said its business had performed "very well" during the first half of this year.

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