Northern Rock today set a target date of December 2010 by which to repay billions of pounds borrowed from the Bank of England and said it aimed to break even the following year, as it revealed further details of its turnaround plan.
The stricken UK lender, which today published its annual report and accounts in its first set of figures since passing into temporary government ownership in February, slumped to a £167.6m (â¬211.8m) statutory pre-tax loss last year from a £626.7m profit in 2006.
