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词条 UK Asset Resolution
释义

  1. History

  2. See also

  3. References

  4. External links

{{EngvarB|date=February 2017}}{{Use dmy dates|date=February 2017}}{{Infobox company
| name = UK Asset Resolution Limited
| logo = UK Asset Resolution.png
| caption =
| trading_name =
| native_name =
| native_name_lang =
| romanised =
| former type =
| type = State-owned limited company
| traded_as =
| industry = Finance
| genre =
| fate =
| predecessor =
| successor =
| foundation = {{Start date|df=yes|2010|10}}
| founder =
| defunct =
| location_city = Croft Road, Crossflatts, Bingley, West Yorkshire
| location_country = United Kingdom
| locations =
| area_served =
| key_people = John Tattersall, Chairman
Ian Hares, Chief executive officer
| products = Financial Services
| production =
| services =
| revenue =
| operating_income =
| net_income =
| aum =
| assets = £43.3bn (2016)[1]
| equity =
| owner = HM Government
| num_employees = 160 (2018)
| parent = UK Financial Investments
| divisions =
| subsid = Bradford & Bingley
NRAM Limited
UKAR Corporate Services
| homepage = {{url|ukar.co.uk}}
| footnotes =
| bodystyle =
}}

UK Asset Resolution (UKAR) is a British financial services holding company with headquarters in the West Yorkshire village of Crossflatts (near Bradford & Bingley's former headquarters in Bingley).[2] It was established in October 2010 to hold the two run-off elements, Bradford & Bingley (including the Mortgage Express brand) and NRAM plc (previously known as Northern Rock Asset Management), of the two nationalised banks in the wake of the financial crisis of 2007 and 2008.

UKAR manages an asset book in run-off, with the combined entity having a total mortgage book of £21.1bn (as at 30 September 2017), down by £94.7bn since its establishment in 2010.[3]

History

On 22 June 2012 Virgin Money, owners of the Northern Rock bank, acquired the remainder of the NRAM Gosforth site, and the following month UKAR sold £465 million of mortgages from the NRAM portfolio to Virgin.[4] UKAR left their Gosforth, Newcastle upon Tyne (Northern Rock / Regent Centre) offices in 2013, and moved those remaining staff to Doxford and Bingley.[5]

In 2011 UKAR repaid £2.15 billion to taxpayers and in 2012 paid a further £4 billion.[6][7]

In August 2013, the bank said it has now returned £6.6 billion to the government. It owed £48.7 billion when it was created in October 2010.[8]

In 2014 £2.7 billion of the mortgage book was agreed to be sold to Commercial First, a consortium led by JP Morgan.[9]

In 2015 UKFI announced that it would seek expressions of interest for the divestment of mortgage servicing capabilities of the NRAM business as well as the Granite securitisation vehicle. UKFI appointed Moelis & Company as advisers for the divestments.[10] On 13 November 2015, UKAR confirmed the sale of NRAM's Granite mortgage portfolio to Cerberus Capital Management for £13 billion.[11]

On 31 March 2017 it was announced by HM Treasury that the sale of buy-to-let mortagages from the Bradford & Bingley loan book to Prudential plc and funds managed by The Blackstone Group had been agreed for £11.8 billion.[12][13]

See also

{{Portal|Companies}}
  • UK Financial Investments
  • Bad Bank

References

1. ^{{cite web |url=http://www.ukar.co.uk/~/media/Files/U/Ukar-V2/Attachments/press-releases/2016/ukar-annual-report-and-account-press-release-2016.pdf |publisher=UKAR |title=RESULTS ANNOUNCEMENT |date=24 May 2016 |accessdate=31 March 2017}}
2. ^{{cite web |url=http://wck2.companieshouse.gov.uk |title=UK Asset Resolution Company no. 07301961 |publisher=Companies House |accessdate=14 November 2013}}
3. ^{{cite web |url=http://www.ukar.co.uk/~/media/Files/U/Ukar-V2/Attachments/fact-sheet/ukar-factsheet-30-11-2017.pdf |publisher=UKAR |title=Fact Sheet |date=30 September 2017 |format=pdf |accessdate=16 February 2018}}
4. ^{{cite web |url=https://www.bbc.co.uk/news/business-18957812 |title=Northern Rock sell-off nets extra £538m for taxpayers |publisher=BBC News |date=23 July 2012 |accessdate=23 July 2012}}
5. ^{{cite web |url=https://www.bbc.co.uk/news/uk-england-tyne-16052710 |title=UK Asset Resolution to close Newcastle office |publisher=BBC News |date=6 December 2011 |accessdate=6 December 2011}}
6. ^{{cite web |url=http://www.ukar.co.uk/media-centre/press-releases/2012/02-03-2012?page=2&nextprev=1 |title=UKAR Preliminary Results Announcement 2011 |publisher=UK Asset Resolution Ltd |date=2 March 2012 |accessdate=7 May 2012}}
7. ^{{cite web |url=https://www.bbc.co.uk/news/business-21922106 |title=Bradford & Bingley owner repays £4bn to taxpayers |publisher=BBC News |date=25 March 2013 |accessdate=6 April 2013}}
8. ^{{cite web| title=UK 'bad bank' repays $2.9 billion to taxpayers in first half | author=Clare Hutchison| publisher=Reuters| url=https://www.reuters.com/article/2013/08/06/us-ukar-results-idUSBRE97506Q20130806?feedType=RSS&feedName=topNews&dlvrit=992637| date=6 August 2013}}
9. ^{{cite web |url=http://uk.reuters.com/article/2014/10/14/uk-banks-uk-assetsales-idUKKCN0I30GB20141014 |title=UK 'zombie' bank sells 2.7 billion pounds of loans to JP Morgan group |publisher=Reuters |date=14 October 2014 |accessdate=14 October 2014}}
10. ^{{cite web |url=https://www.bloomberg.com/news/articles/2015-03-18/osborne-says-u-k-plans-to-sell-13-2-billion-of-lloyds-shares |title=Osborne Says U.K. Plans Faster Sale of Lloyds Shares in 2015 |publisher=Bloomberg |date=18 March 2015 |accessdate=4 April 2015}}
11. ^{{cite news|last1=Ping Chan|first1=Szu|last2=Wallace|first2=Tim|title=Government sells £13bn of former Northern Rock mortgages to US private equity firm|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11992721/Government-sells-13bn-stake-in-Northern-Rock-to-US-private-equity-firm.html|accessdate=13 November 2015|work=The Telegraph|date=13 November 2015}}
12. ^{{cite web |url=http://news.sky.com/story/bradford-bingley-asset-sale-raises-16312bn-for-taxpayers-10818885 |title=Bradford & Bingley asset sale 'raises £12bn for taxpayers' |publisher=Sky News |date=31 March 2017}}
13. ^{{cite news|title=Bradford & Bingley mortgage sale raises £11.8bn|url=https://www.bbc.co.uk/news/business-39452635|accessdate=31 March 2017|publisher=BBC News|date=31 March 2017}}

External links

  • {{official website|http://www.ukar.co.uk/}}
  • NRAM
  • Bradford & Bingley – Mortgage Express
{{2008 economic crisis}}{{UK banks |state1=collapsed}}

6 : Companies based in the City of Bradford|Government-owned companies of the United Kingdom|HM Treasury|Bingley|2010 establishments in the United Kingdom|Companies established in 2010

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