Thrifts and Mortgage Finance
Company Overview of NRAM plc
NRAM plc operates as a servicer of mortgage loans secured on residential properties in the United Kingdom. The company holds residential mortgages and unsecured loans; and government loans, and non-deposit wholesale and secured funding instruments. It also provides associated services; and serves homeowners and landlords. The company was formerly known as Northern Rock (Asset Management) plc and changed its name to NRAM plc in May 2014. The company was founded in 1850 and is based in Bingley, the United Kingdom. NRAM plc operates as a subsidiary of UK Asset Resolution Limited.
Bingley, BD16 2UA
Founded in 1850
Key Executives for NRAM plc
Chief Executive Officer and Director
Finance & Investment Director and Director
Compensation as of Fiscal Year 2015.
NRAM plc Key Developments
NRAM plc Announces Earnings Results for the Six Months Ended September 30, 2015
Oct 29 15
NRAM plc announced earnings results for the six months ended September 30, 2015. For the period, net interest income was GBP 385.3 million against GBP 469.1 million a year ago. Underlying total income was GBP 390.3 million against GBP 470.5 million a year ago. Underlying profit before taxation was GBP 384.2 million against GBP 481.1 million a year ago. Statutory profit before taxation was GBP 631.0 million against GBP 452.8 million a year ago. Net cash used in operating activities was GBP 612.4 million against net cash generated from operating activities of GBP 934.3 million a year ago. Purchase of property, plant and equipment was GBP 0.3 million.
Cerberus, Morgan Stanley Said to Win $18 Billion Loan Bid
Oct 17 15
Cerberus Capital Management, L.P., with Morgan Stanley (NYSE:MS), was selected as the preferred bidder for £11.7 billion pounds of U.K. mortgages from NRAM plc, according to four people with knowledge of the matter. Cerberus and Morgan were chosen in a sale overseen by UK Asset Resolution Limited, said the people, who asked not to be identified because the information is private. The portfolio comprises about 115,000 loans that were packaged into a securitization vehicle called Granite.
Sabadell Eyeing Bid For Northern Rock And Bradford & Bingley Assets
Sep 14 15
Banco de Sabadell, S.A. (CATS:SAB) is studying making a bid for €18 billion mortgage asset portfolios from NRAM plc and Bradford & Bingley plc, Reuters reported on September 14, 2015 citing financial newspaper Expansion. The acquisition will be financed by capital from British lender TSB, recently acquired by Sabadell, according to the sources, the paper said. No one from the Sabadell was immediately available for comment on the report.
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