UK building society to take over smaller rivals

Calcutta News.Net
Sunday 7th September, 2008

In the UK, the Nationwide Building Society has had talks with two of its smaller rivals, the Derbyshire and Cheshire Building Societies.

The Nationwide is the UK's biggest mutual lender with 14 million members.

With the approval of financial regulators Nationwide has said it will step in to help the smaller lenders, who are under growing pressure due to the housing slump.

Nationwide has confirmed it has had discussions with the Derbyshire and Cheshire organisations about separate mergers.

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