Northern Rock LOSS - Deutsche chosen as privatisation adviser.

(From Banking Newslink)

Northern Rock reported a net LOSS of GBP232.4m (€271.3m $374.9m YEN31,142m Y2,465m) for 2010. There is no comparison for 2009 as the former Northern Rock company was split into Northern Rock plc show here and Northern Rock Asset Management on January 1st 2010. No attempt at pro-forma accounts were made for 2009. The lender calculates there was GBP60m of restructuring expenses within the result and GBP16m in depreciation and amortisation.. Further confusing the accounts were that various expenses for Northern Rock Asset Management and Bradford & Bingley are included under expenses, but were then charged back and …