January 2 - B&B's shares are valued at 278.5p

February 13 - The firm unveils annual profits of £126 million - 49% below the previous year after an "eventful and difficult" period for the banking sector.

Bad debt charges treble, arrears rise, and the firm writes off £144.1 million on investments hit by the credit crunch.

February 17 - Northern Rock is nationalised.

April 13 - Reports emerge that B&B is attempting to raise hundreds of millions from shareholders in a rights issue. B&B denies the reports

April 22 - The bank says demand for buy-to-let mortgages is "robust". It said it continued to fund its operations "successfully", helped by a £1.9 billion increase in savings deposits since the beginning of 2008. Shares are at 163.5p

May 14 - In a dramatic U-turn, B&B asks shareholders for £300 million in a bid to bolster its balance sheet and its shares fall to a record low. The new shares are offered at 82p - a 48% discount to the previous evening's close.

Chief executive Steven Crawshaw says the move will strengthen B&B's financial standing and reinforce its position "as one of the better capitalised banks in the UK".

June 1 - Steven Crawshaw steps down because of ill-health. Speculation grows that the company is about to issue a profits warning.

June 2 - B&B warns over this year's profits and said it had agreed to sell a 23% stake to private equity firm Texas Pacific in a move to bolster its finances alongside a restructured rights issue, raising £400 million in total.

The new shares are priced at 55p as the group's then share price fell closer to the 82p "discount" price under the previous terms.

June 27 - Investment firm Resolution - which offered alternative plans for a £400 million fund-raising - walks away after B&B's board rejects proposals.

July 4 - Texas Pacific pulls out of the deal to buy a 23% stake in B&B after the lender's investment status was downgraded by a ratings agency.

B&B relaunches its rights issue plans for a second time - backed by major investors - but its shares fall below 55p "discount" price.

August 18 - B&B said 27.8% of its new shares had been taken up by investors, but the group finally gets its £400 million.

August 29 - B&B crashes into the red in the first half of 2008, after credit crunch losses and rising bad debts. The firm's pre-tax losses are £26.7 million. Shares fall to 49p.

September 15 - Lehman Brothers goes bankrupt and another week of turmoil for the banking sector begins. Interbank lending costs rise sharply, putting more pressure on B&B's funding costs. Shares fall to 31.5p.

September 19 - With global money markets grinding to a halt, the US Government announces plans for a 700 billion US dollar bail-out, pushing the FTSE 100 Index to its biggest-ever one-day rise.

September 21 - Reports emerge that the Financial Services Authority is sounding out other banks over a takeover of B&B. B&B's shares are just 27.75p.

September 23 - B&B rearranges onerous terms of a deal under which it bought mortgages from US financial services firm GMAC. These mortgages have been hit by rising arrears.

September 25 - The bank axes 370 jobs under a cost-cutting drive but fails to boost the share price.

September 26 - Bank of England announces more moves to free up money markets with extra funds. But shares in B&B fall to a record low of just 16.5p during the day, eventually closing at 20p.

September 27 - News breaks of talks over nationalising the lender.

Full coverage of the Bradford & Bingley crisis »