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More scenes of panic expected at bank

By: Danny Boyle

Published: 00:00, 21 September 2007

The scene outside Northern Rock's Bromley branch on Monday. Picture: GRANT FALVEY
The bank had to turn customers away on Monday evening. Picture: DANNY BOYLE

NORTHERN Rock's Bromley managers had to close the door on about 30 people last night - but some vowed to be back at 3am today.

Hundreds of desperate customers anxious to empty their accounts had besieged the branch since Friday amid fears of the bank's future.

Panicking savers queued for hours to get their hands on their cash - and similar scenes are expected at the Market Square branch today.

At the back of the queue when the door shut at 6pm yesterday was Rosie Jackson, who had waited for six hours of Saturday - and two yesterday.

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She said: "At first I was going to leave my money but then it snowballed and I had to come down. I'll be back tomorrow."

Other customers vowed to set up camp at 3am today to be first in line for an 8am start.

The desperate action started on Friday, when Northern Rock was "bailed out" by the Bank of England with a £30bn loan after declaring it was short of funds.

Northern Rock has been hit by problems after the US lending collapse, which made banks wary of lending to each other.

Most banks take money from savers and lend it to other customers – but Northern Rock also borrows from other lenders, making it vulnerable.

Chancellor Alistair Darling yesterday pledged the Bank of England would underwrite all existing deposits in a bid to reassure people.

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