Building societies tipped to join forces

Call us on our free phone number 0800 587 0093

People Finder

Search AG

Share this site

My Ashton KCJ Bookmarks

Currently no favourites bookmarkedAdd this page to FavoritesCharacter limit exceeded! Limit:To delete the bookmark click on the title and drag out.Bookmark already exists!Custom titleDescriptionPlease fill in all required fields!

100smoothness

Warning: Invalid argument supplied for foreach() in /home/ashtonkc/public_html/modules/mod_cd_fapa/tmpl/default.php on line 56

Building societies tipped to join forces /resources/news/company-commercial/1064-Building-societies-tipped-to-join-forces

Home > News & Resources > News > Company / Commercial > Building societies tipped to join forces

Building societies tipped to join forces

Merger and acquisition activity among building societies is likely to increase in the near future, according to industry analysts.

A report from KPMG said factors such as losses among some organisations and pressure from the Financial Services Authority could lead to greater consolidation in the sector.

Speaking to the Financial Times, KPMG partner Simon Walker added that other building societies may choose to take advantage of the current economic slump by buying out rival companies.

"Some societies think this is a great time to do a merger without having to pay windfalls," he commented.

Mr Walker added that increased merger and acquisition activity in the sector is "inevitable" over the next few years.

The forecast comes in the wake of the recent merger between Co-op Financial Services and Britannia Building Society.

Neville Richardson, former chief executive of Britannia, said he hopes the £70 billion deal will help to restore trust in the financial services sector following the recent problems in the industry.
ADNFCR-2347-ID-19327816-ADNFCR