Sunday, March 23, 2008
B&B attracts £1.3bn savers money while BTLetters fall back with repayments
Do we live in cokoo-land? Moody’s praised B&B for continuing to access funding through the tough market conditions, and for attracting an additional £1.3 billion of savers’ money in the first two months of the year. the bank has seen customer arrears jump by between 40% and 50% since December. B&B’s “bank financial strength rating” (BFSR) has been cut by the agency from C+ to C, with warnings of further downgrades to come. This is deep junk!