March 05, 2015 6:32 AM ET

Thrifts and Mortgage Finance

Company Overview of NRAM plc

Company Overview

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, as well as 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. NRAM plc was founded in 1850 and is based in Bingley, the United Kingdom. NRAM plc is a subsidiary of UK Asset Resolution Limited.

Croft Road

Crossflatts

Bingley,  BD16 2UA

United Kingdom

Founded in 1850

Key Executives for NRAM plc

Chief Executive Officer and Director
Age: 62
Finance & Investment Director and Director
Chief Internal Auditor
Chief Risk Officer and Member of Executive Committee
Head of the Treasury Operations
Age: 52
Compensation as of Fiscal Year 2014.

NRAM plc Key Developments

UK Asset Resolution Ltd, Bradford & Bingley plc and NRAM plc Appoint David Lunn as Non-Executive Director

The Boards of UK Asset Resolution Ltd, Bradford & Bingley plc and NRAM plc announced the appointment of David Lunn as a Non-Executive Director of each company, with immediate effect. Mr. Lunn has been appointed by UK Financial Investments Ltd. to manage HM Government's shareholdings in the aforementioned companies and replaces Mr. Christopher Fox who has stepped down from the Board, also with immediate effect, as he will be taking up a new position outside UKFI.

NRAM plc Announces Consolidated Earnings Results for the Six Months Ended September 30, 2014

NRAM plc announced consolidated earnings results for the six months ended September 30, 2014. For the period, the company reported net interest income of £469.1 million against £541.0 million a year ago. Underlying net operating income was £470.5 million against £536.8 million a year ago. Underlying profit before taxation was £481.1 million against £452.7 million a year ago. Statutory profit before taxation was £452.8 million against £427.5 million a year ago. Net operating income was £461.7 million against £490.4 million a year ago. Profit for the period was £357.5 million against £326.6 million a year ago. Net cash generated from operating activities was £934.3 million against £268.2 million a year ago.

TSB Plans Bid For UKAR's Mortgage Portfolio

TSB Banking Group is plotting an audacious takeover bid for a £1.5 billion taxpayer-owned mortgage portfolio. TSB is interested in acquiring the residential loan book of UK Asset Resolution Limited (UKAR), that is winding down the loans of NRAM plc and Bradford & Bingley. Sky News has learnt that TSB's Chief Executive Paul Pester has expressed an interest in acquiring the residential loan book from UKAR.

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