The new boss of Northern Rocks says it will take years for the bank to pay back its loans from the taxpayer.
Executive chairman Ron Sandler has been charged with finding a viable business plan for the lender and was speaking after meeting managers and staff.
When asked about the loans he said: "It is clearly unrealistic to talk about months. We are clearly talking about a period of some years."
He also said it was too early to say if Northern Rock would cut jobs.
The Prime Minister Gordon Brown has been defending the government's decision to nationalise Northern Rock.
At a Downing Street briefing he called it "the right move at the right time for the right reasons".
The government's move has been fiercely criticised by shareholders who face losing almost all of their investment.
Shadow chancellor George Osborne said the nationalisation plans were "catastrophic," and that they would be opposed by the Conservatives.
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