Nationwide in advanced talks over mergers with two building societies
Published Date:
07 September 2008
Nationwide Building Society, one of Britain's biggest home-loan leaders, said on Sunday that it was in advanced talks over proposed mergers with both the Derbyshire and the Cheshire Building Societies.
The Nationwide, Britain's largest building society, has £179 billion of assets and around 900 branches; the Derbyshire has £7.1 billion of assets and 50 branches, and the Cheshire £5 billion pounds of assets and 45 branches.
The move if successful would combine Nationwide's leading position in the building society market with the Derbyshire which is the ninth largest and Cheshire the eleventh.
"The board of Nationwide Building Society can confirm that it is in advanced discussions with The Derbyshire and The Cheshire Building Societies over the terms of independent and proposed mergers," the Nationwide said in a statement.
"Further announcements will be made once those discussions have concluded," the statement added.
The full article contains 153 words and appears in n/a newspaper.
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Last Updated:
07 September 2008 1:32 PM
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Source:
n/a
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Location:
Yorkshire
