LONDON (Reuters) - Britain's 'bad bank', which is running down the loans of two bailed out lenders, said on Thursday it repaid 1.6 billion pounds ($2.6 billion) to the government during the six months to the end of September.
UK Asset Resolution (UKAR), a state-run 'zombie bank' that does not take on new business, said it had now returned 12 billion pounds to the government. It owned 48.7 billion pounds when it was created in October 2010.
UKAR, Britain's seventh-largest mortgage lender, is winding down the loans of Northern Rock and Bradford & Bingley, which were nationalised during the financial crisis of 2007 to 2009.
(Reporting by Matt Scuffham; editing by Simon Jessop)