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Nationwide takes over Dunfermline Building Society

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T_i_B Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-30-09 04:16 AM
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Nationwide takes over Dunfermline Building Society
http://news.bbc.co.uk/1/hi/scotland/7971244.stm

The Nationwide is to buy the Dunfermline Building Society's branches, good loans and deposits, it has been confirmed.

The mutual was put up for sale after incurring losses of £26m.

The Nationwide, which will take on the Dunfermline's 530 staff, said the 140-year-old brand would remain intact.

The Treasury will take £1bn of commercial property lending and acquired mortgage debt. Scotland's first minister welcomed the deal.

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