Danish banks reportedly criticise govt support for N. Rock

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Buildings are reflected in the windows of Northern Rock's Leicester branch, central England February 4, 2008. REUTERS/Darren Staples/Files

Buildings are reflected in the windows of Northern Rock's Leicester branch, central England February 4, 2008.

Credit: Reuters/Darren Staples/Files

LONDON | Sun Mar 16, 2008 3:08pm GMT

LONDON (Reuters) - Danish banks have written to the European Commission to complain about the "unfair competitive advantage" which they say government support gives nationalised UK lender Northern Rock, the Sunday Times reported.

The company offers savings accounts to Danish investors through Northern Rock Denmark.

Denmark's biggest banks wrote a letter to European Competition Commissioner Neelie Kroes earlier this month, the paper said, without naming its source or saying which banks in particular had put their signatures to the letter.

The letter said British government backing for the recently nationalised bank would distort competition, the story said.

Northern Rock was not immediately available for comment.

(Reporting by Chris Wills, editing by Jason Neely)

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