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Profits rise at treasury-owned 'bad bank' UKAR

Profits have risen at UKAR, the Treasury-owned organisation set up to take on the unwanted mortgage book from Northern Rock and Bradford and Bingley, by £186m, according to figures released today.

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UKAR has repaid £10.4 billion to taxpayers

UKAR, the Treasury company set up to wind down the unwanted mortgage books of Northern Rock and Bradford & Bingley, has now returned £10.4 billion to British taxpayers.

ITV News Business Editor Joel Hills is following developments.

However, the group has also warned that some Northern Rock and Bradforrd & Bingley customers may not be able to pay back their mortgages if interest rates go up.

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