Nationwide's profits hit amid state bank distortion

Jones, Lee
November 2009
Money Marketing;11/26/2009, p24
The article focuses on the statement of Graham Beale, chief executive officer (CEO) at Nationwide Building Society, stressing the condition of uneconomic pricing of Government-backed banks in Great Britain. Beale cites Northern Rock PLC and Lloyds Banking Group PLC which has withdrawn their market-leading bond due to huge demand. Beale further states that Nationwide has warned the public regarding the rise in housing prices due to lack of supplied materials.


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