Fact sheet

UKAR at a glance

  • UKAR is the holding company established on 1 October 2010 to bring together the businesses of B&B and NRAM.
  • The core objective of UKAR is to maximise value for taxpayers through the prudent management of NRAM’s and B&B’s closed mortgage books, while treating customers and creditors fairly.
  • UKAR is 100% owned by the Government which exercises control through UK Financial Investments (UKFI) which was set up to manage the Government’s investments in Royal Bank of Scotland, LloydsTSB, Northern Rock and B&B.
  • UKAR has its own Board and Executive Committee and makes its own commercial decisions.
  • Although managed under a single board and management structure, NRAM and B&B remain separate legal entities and continue to operate as individual companies with their own individual brands and balance sheets. Operational efficiencies are achieved, amongst other things, through standardisation of processes, integration of systems and processes and knowledge sharing.
  • There are some 2,400 colleagues at sites in West Yorkshire and the North East, serving some 615,000 existing customers.

Fact sheet

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