Society losses will mean more mergers

Jones, Lee
August 2009
Money Marketing;8/27/2009, p5
The article reports on the impact of building society losses on the sector, according to KPMG LLP in Great Britain. Society losses will mean that further mergers in the sector are inevitable. In its building society database 2009, KPMG says that some societies may respond to the need capital by disposing of assets and businesses and others may enter joint ventures. Linda Will, sales and marketing director of Stroud & Swindon, says that bigger mutuals will merge.


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