Recently nationalised British bank Northern Rock will post its annual results Monday, with reports predicting plunging profits and a large pay-off for its former chief executive. A spokesman for the bank confirmed that the 2007 results would be published Monday morning, months later than originally planned. The Sunday Times reported, without citing its source, that Northern Rock would reveal that it had dived into the red last year on the back of huge subprime-related writedowns and interest payments made to the Bank of England.

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