Mutual Agreement
The 2010/11 ISA season has just come to an end during which we saw another mutual, Kent Reliance Building Society, transferring to a PLC Banking subsidiary via JC Flowers and to now be known as `One Savings Bank’. T he 2011/12 season has only just begun and Norwich and Peterborough Building Society has announced proposals to merge with Yorkshire Building Society some 30 years after Walker & Byker Industrial Permanent Building Society ended trading to Northern Rock.
Our Survey Said…
Trust is on the increase for a majority of retail customers, who, in a survey of more than 20,500 global banking customers 1,000 respondents claimed they were `satisfied’ with the country’s banking system……. in India. The 100th Quarterly Survey of Small Business showed firms are turning to trusted sources for advice as the economic climate, cashflow and bad debt became their dominant problems and ‘are using a variety of sources to help them through the ups and downs of the economic cycle’. Health, education, transport, travel, retail, hotels, restaurants, agriculture, forestry and fisheries, business services, wholesalers, construction and manufacturing were represented amongst the 834 sole proprietors, microfirms, small and medium firm respondents. The number of insolvencies fell by 16% with some 24,700 (!!!) less than the previous year.
(Image and Article credit: Copyright SUF)