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West Brom Building Society On Edge Of Hm Treasury Takeover

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Looks like the West Bromwich BS may be on its last legs:


West Bromwich Building Society has refused to deny speculation that Treasury advisers were on standby for a Government-backed rescue following the alleged failure of merger talks with its counterpart in Coventry.

The Black Country society issued a terse statement distancing itself from weekend reports that a Dunfermline Building Society-style state-endorsed salvage operation was planned for the West Bromwich.

Reports claimed that the West Bromwich was close to breaching regulatory capital requirements, with auditors yet to sign off the group’s accounts ahead of next month’s annual general meeting.

The claims have fuelled speculation that the West Bromwich could be forced into a merger by the Financial Services Authority or be broken up, with rivals such as Coventry Building Society waiting in the wings.

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They were giving shiny cars away to get people to take mortgages at the peak of it?

So is the Goverment now , so its a nice fit!


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