Bradford & Bingley today refuted suggestions that it is to acquire assets of the crisis hit Northern Rock bank as part of a rescue package.

It had been mooted that the mortgage lender would take on a proportion of Northern Rock's mortgage business.

But a B&B spokesman today stated that the firm had no such plans at "this time".

She said: "Bradford & Bingley was one of several parties that received a copy of the Northern Rock briefing memorandum.

"We are not actively pursuing a bid for any part of the Northern Rock at this time."

Last month B&B, which provides mortgages and saving products, said it had been "resilient and resourceful" during the credit crisis affecting the banking industry.

Group chief executive Steven Crawshaw said at the time: "We are now even better placed to take advantage of opportunities in our market."

The bank had total lending assets of GBP40.6 billion as at June 30 this year, up from £36.1 billion at the end of December last year.

In a recent briefing, B&B said its business had performed "very well" during the first half of this year.

This week the Government made a fresh move to shore up Northern Rock. It extended taxpayer guarantees across almost all of the bank's balance sheet.