The building societies, Coventry Building Society (A/Stable/F1), Yorkshire Building Society (A-/Stable/F1), Skipton Building Society (A-/Stable/F1), Leeds Building Society (A-/Stable/F1) and Principality Building Society (BBB+/Stable/F2), together accounted for over 10% of gross mortgage lending in the UK in 2016.
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The building society said it was disappointed by Fitch's action.
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The provision was made after a Romanian High Court ruled that local building society BCR BpL, a subsidiary of Erste Group's subsidiary BCR, did not comply with legal requirements for paying state subsidies to building society clients.
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A majority (53%) of respondents say that they use a mobile banking app from a traditional bank or building society, while 48% say that they use an online banking offering from a traditional bank or building society.
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Lloyds Bank and Principality Building Society were downgraded to stable from positive.
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Building society Nationwide said it had also been advising its teams how to respond.
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Those suppliers will now have their contracts directly with the building society, Nationwide said.
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Nationwide is the UK's largest building society with strong franchises in retail mortgages and savings.
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Now, we can contribute to building society and also take care of raising our children.
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Nationwide is the UK's largest building society with good franchises in the retail mortgages and savings.
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In fact, they were pensioners waiting overnight to receive their money from the National Building Society.
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Customers should check their bank, building society or card provider website or contact them with any queries.
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For one thing, building society around work instead of around the people who work is terrible policy.
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Britain's banking sector is dominated by six lenders - RBS, Lloyds , Barclays , HSBC, Santander and building society Nationwide .
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Malaysian Building Society then entered into merger talks with Bank Muamalat Bhd, but that also fell through.
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Metro Bank and Nationwide Building Society came second and third with 83 percent and 73 percent, respectively.
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Meanwhile Nationwide Building Society will employ around 250 contractors from the company, meaning their jobs will be saved.
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The bank's problems go back to 2009, when it merged with the Britannia building society, another mutually owned lender.
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HALIFAX BUILDING SOCIETY SAYS SHUTS BELFAST CALL CENTRE WHICH EMPLOYS 1,000 PEOPLE AFTER MEMBER OF STAFF WAS DIAGNOSED WITH CORONAVIRUS
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Dias, who is a non-executive director for the Ipswich Building Society and Chartered Management Institute, will join on Oct. 1.
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Meanwhile, data released by building society Nationwide last Friday indicated a sharp pullback in growth rates for house prices in London.
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He said the bank used "temporary refinancing" at the Irish Nationwide Building Society to mask the true size of the loans.
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"It is about lower taxes and ... better outcomes for families, fostering enterprise, restricting the scope of government and building society," Bernardi said.
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Mortgage cash deposit lending from parents is now equivalent to the size of the Yorkshire Building Society - Britain's ninth-biggest mortgage lender.
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Profitability should begin to benefit in 2018 when fair value adjustments related to the 2009 acquisition of Britannia Building Society are fully unwound.
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Smaller banks Virgin Money, CYBG and Metro Bank reported no incidents, while the Co-operative Bank and Nationwide Building Society both disclosed two.
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Earlier this week mortgage lender Nationwide Building Society predicted house price growth of around 2 percent against a backdrop of a weaker economy.
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BAWAG bought Austrian credit card issuer PayLife and German Suedwestbank and agreed to take over German building society bank Deutscher Ring Bausparkasse last year.
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House prices in London fell in the third quarter, year on year, for the first time since 22047, according to the Nationwide building society.
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House price growth is also likely to slow to around 2 percent from twice that in 2016, according to mortgage lender Nationwide Building Society.
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Simon Walker, head of retail sales at Al Rayan, compares his firm to Charity Bank and Ecology Building Society, which market themselves as ethical alternatives.
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After fifteen straight months of increases for U.K. housing, prices in October stayed flat, according to a report by U.K. building society Nationwide released Wednesday.
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The banks being tested by the BoE are, Barclays, RBS, HSBC, Lloyds Banking Group, Standard Chartered, the UK arm of Santander and building society, Nationwide.
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Muddy Ramrakha, board treasurer for the Kenya Green Building Society, said BIPV technology could make a significant contribution to easing dependence on the national grid.
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In February, Bank Muamalat and Malaysia Building Society Bhd called off merger talks that would have created one of the country's largest standalone Islamic banks.
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Last week, mortgage lender Nationwide Building Society said annual house price growth slowed to just 0.1 percent in January, the weakest in nearly six years.
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Earlier in his career, Hoffman held executive roles at banking giant Barclays and is currently non-executive chairman of insurer Hastings and lender Coventry Building Society.
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Its economy blends manufacturing (the largest private employer is Jaguar Land Rover) with services (Barclays bank and the local building society provide plenty of financial jobs).
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Nationwide Building Society will allow existing customers with retirement income to borrow up to the age of 80, with a maximum age at maturity of 85.
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We contacted the building society, moved here, and got a mortgage, and fortunately now, it's worth a lot more than than the £3,250 [$4,760] it cost.
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The seven banks tested were the Royal Bank of Scotland, HSBC, Barclays, Standard Chartered, Lloyds, Nationwide Building Society and the U.K. arm of Spanish bank Santander.
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LONDON, March 16 (Reuters) - Britain's Nationwide Building Society said it will open some of its branches early for elderly and vulnerable customers during the coronavirus outbreak.
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Pocket money was now stashed in a building society rather than a piggy bank; household shopping was done online; the children rarely saw their parents handling cash.
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Nationwide Building Society is also a future candidate, having indicated it could issue SNP to make up shortfalls of loss absorbing debt if the regulator allows it.
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If the plan had gone ahead, the merger of CIMB, RHB and Malaysia Building Society would have overtaken Maybank as the largest banking group in the country.
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U.K. bank Nationwide Building Society also moved to a single annual overdraft interest rate of 39.9% in November, again scrapping its £5 daily fee on unarranged borrowing.
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The firm said it would no longer write insurance business for British supermarket Sainsbury's from 2017, following the loss of a deal with Nationwide Building Society last year.
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HSBC, Lloyds Banking Group, Nationwide Building Society and Banco Santander's British business were deemed to have adequate capital under the stress test conditions, the Bank of England said.
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Last year, Austria's fourth-biggest bank bought German regional lender Suedwestbank and Austrian credit card issuer PayLife and agreed to take over German building society bank Deutscher Ring Bausparkasse.
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Mastercard and Visa are both supported, with the Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA, and Nationwide Building Society all available at launch.
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HSBC, Barclays, Lloyds, Santander UK, Royal Bank of Scotland, Nationwide Building Society and Standard Chartered all ended the test with capital buffers above their bespoke pass marks, the FPC said.
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KEY RATING DRIVERS The affirmation of Southsure's rating reflects the operational synergies it receives from being majority owned by Southland Building Society (SBS; Long-Term Issuer Default Rating: BBB/Stable).
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Tesco Bank said this week it was quitting home lending due to tough competition, and Nationwide Building Society its measure of underlying profitability fell in the year to April 4.
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Prestedge currently serves as Deputy Chief Executive at the British building society and has previously held a variety of senior executive roles within the financial services sector, including at Barclays.
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The court ruled that BCR BpL did not comply with legal requirements for paying state subsidies to building society clients, overturning a lower court ruling, an Erste Group spokesman said.
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Figures rose after SEUK expanded its research to include larger companies, including the Nationwide Building Society, Britain's second largest mortgage provider, and the mutually-owned supermarkets-to-funerals Co-Operative Group.
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LONDON, Aug 10 (Reuters) - Britain's Nationwide Building Society said on Friday its pre-tax profit fell by 13 percent in the first quarter as intense competition continued to dent its performance.
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Barclays has said it will offer 100 percent mortgages, for which no deposits are required, while Halifax, Scottish Widows and Nationwide Building Society have increased the upper-age limit for mortgage approvals.
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Asked whether he minded that England had already lost the three-Test series, having been beaten in Barbados and Antigua, Steve, a retired building-society manager from Somerset, looked almost put out.
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LONDON, Nov 18 (Reuters) - Nationwide Building Society reported a 23 percent fall in first-half profit on Friday as persistently low interest rates bit into returns from its principal mortgage lending business.
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After years of government and regulatory efforts to promote competition and shake up the banking sector, it remains dominated by six huge lenders — RBS, Lloyds, Barclays, HSBC, Santander and building society Nationwide.
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The provision comes as a result of a Romanian High Court decision concerning the business activities of local building society BCR BpL, a subsidiary of Erste Group's subsidiary BCR, the bank said.
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One such bank is Nationwide Building Society, which is opening a new concept branch that aims to move away from a traditional counter service approach to combine new technology with a human touch.
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"The long-term funding will support the transformation of the (building) society into a full-service commercial bank financing underserved clients, including small and medium enterprises," IFC Regional Director for Africa Oumar Seydi said.
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We placed Nationwide Building Society on Positive Outlook in May 2016 and expect to upgrade its Long-Term IDR to one notch above the VR once the society's qualifying junior debt buffer increases further.
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The service will support MasterCard and Visa credit and debit cards from banks and building societies including Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society.
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Nationwide Building Society said annual house price growth in January increased to 1.9% from December's 1.4%, above all forecasts in a Reuters poll of economists, after a monthly increase of 0.5% in January alone.
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The Times Joe Garner, the chief executive officer of Britain's Nationwide Building Society, was handed 185,000 pounds ($23,22) in perks during the 21 months to April 21, according to the group's latest annual report.
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Losses are also likely to be generated from continued deleveraging from some legacy loans (the so-called Optimum portfolio, made up of non-conforming loans originated by the Britannia Building Society before it was acquired).
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Botswana Building Society (BBS) Managing Director Pius Molefe said on Friday 99.97 percent of its shareholders had approved a resolution to demutualise the 41 year old society, allowing it to convert into a commercial bank.
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OneSavings was founded in 2011 as part of a private equity buyout of the Kent building society KRBS, while Charter Court was launched in 2008, when it was majority owned by U.S. investor Elliott Management.
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Android Pay in the UK is now supported by Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA and Nationwide Building Society and Google says more banks will add support soon.
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Smaller lenders are reportedly cross that they have to compete for funds with a Spanish bank whose 2008 acquisition of former building society Alliance & Leicester made it a relatively large player in the UK retail market.
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LONDON, Dec 19 (Reuters) - British house price growth is likely to slow to around 2 percent next year against a backdrop of a weaker economy, Nationwide Building Society, the country's second largest mortgage lender, said on Monday.
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Suddenly, the progressive, post-racial, bridge-building society he promised has given way to an angry, jeering, us-against-them nation to be led by a new president who relishes reality-show name-calling with racial overtones.
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The credit agency singled out Coventry Building Society as one lender that had upped its risk profile through higher LTV lending and an increased exposure to interest-only mortgages on rental properties, downgrading it as a result.
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Along with Nationwide Building Society, the No 203 mortgage provider which has made a push into lending to older customers, those six lenders have held 70 percent of the market since 2009, according to data from UK Finance.
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LONDON (Reuters) - First Direct, Metro Bank and Nationwide Building Society came top in Britain's first mandatory sector-wide customer surveys to help people choose the best bank, with Royal Bank of Scotland at the bottom of the list.
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Kersley, an independent non-executive director at U.K.-based Leek United Building Society, has held senior roles in the financial services industry with companies such as HSBC Bank and most recently served as the CEO of Marks & Spencer Bank.
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LONDON, Sept 14 (Reuters) - Nationwide Building Society said on Friday it would spend an additional 1.3 billion pounds ($1.70 billion) on technology, as the British lender works to keep pace with the growing popularity of online and mobile banking.
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Britain has lost nearly two thirds of its bank and building society branches over 30 years, with the number falling to just over 7,500 last year, down from 20,500 in 1988, according to research by consumer campaign group Which?
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Well, [after I divorced your grandfather in the early 1970s], I wanted to buy a terraced house, and I couldn't get a mortgage from a building society—despite having a job and enough savings to put down a deposit.
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Through the bond, the IFC, a member of the World Bank Group, will invest the 250 million pula in BBS Limited, a 41-year old building society in the process of demutualizing and converting into Botswana's first homegrown commercial bank.
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VIENNA, June 25 (Reuters) - Austrian lender Erste Group said it would set aside up to 230 million euros ($262.18 million) as a result of a Romanian High Court decision in relation to business activities of its local building society BCR.
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However the main executives of the failed Anglo Irish Bank and Irish Nationwide Building Society were unable to appear because of ongoing legal cases and committee members said the restrictive legislation underpinning inquiries in Ireland prevented more robust lines of questioning.
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OneSavings, founded in 2011 as part of a private equity buyout of Kent building society KRBS, the group has concentrated on professional landlords and tightened lending criteria for financing smaller developments after Britain's vote to leave the European Union in 2016.
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The price war over the past two years may be good news for consumers wanting to buy their first home, but it was less good for a bank or building society concentrated in mortgages, Woods told the Building Societies Association.
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OneSavings, founded in 2011 as part of a private equity buyout of Kent building society KRBS, has been well protected so far by its focus on providing mortgage credit to professional landlords and tightened lending criteria for financing smaller developments.
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KUALA LUMPUR, Nov 6 (Reuters) - Malaysia Building Society Bhd (MBSB) said it plans to acquire Asian Finance Bank (AFB) from its foreign shareholders for 645 million ringgit ($152.5 million) in a deal that would give the non-bank lender a banking license.
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Malaysia Building Society said it had agreed with AFB's shareholders - Qatar Islamic Bank, Financial Assets Bahrain, RUSD Investment Bank and Tadhamon International Islamic Bank to pay 396.9 million ringgit in cash and the issuance of 225.5 million new shares at 1.10 ringgit per share.
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OneSavings, founded in 2011 as part of a private equity buyout of Kent building society KRBS, has been well-protected so far from a softening of the housing market in London and south-east England by its focus on providing mortgage credit to professional landlords.
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Analysts also said that the UK banking sector, which rose 2.6 percent, was boosted by readacross from a 9 percent rise in underlying profit at Nationwide Building Society, Britain's biggest customer-owned lender, as mortgage lending increased to volumes last seen before the 2007-08 financial crisis.
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Analysts also said that the UK banking sector, which rose 2.4 percent, was boosted by readacross from a 9 percent rise in underlying profit at Nationwide Building Society, Britain's biggest customer-owned lender, as mortgage lending increased to volumes last seen before the 2007-08 financial crisis.
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Analysts also said that the UK banking sector, which rose 1.6 percent, was boosted by readacross from a 9 percent rise in underlying profit at Nationwide Building Society, Britain's biggest customer-owned lender, as mortgage lending increased to volumes last seen before the 2007-08 financial crisis.
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SUPPORT RATING AND SUPPORT RATING FLOOR Fitch does not expect any changes to the SR and the SRF given the low systemic importance of the building society, as well as the legislation in place that is likely to require senior creditors to participate in losses for resolving LBS.
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SUPPORT RATING AND SUPPORT RATING FLOOR Fitch does not expect any changes to the SR and the SRF given the low systemic importance of the building society, as well as the legislation in place that is likely to require senior creditors to participate in losses for resolving SBS.
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Lloyds, Royal Bank of Scotland, Santander UK and building society Nationwide are heavily reliant on the UK economy so may be most exposed to the domestic stress scenarios, whereas HSBC, Standard Chartered and Barclays may be more exposed to the scenarios of problems in Asia and other markets.
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STOKE-ON-TRENT, England (Reuters) - The framed coat of arms hanging in the headquarters of the Hanley Economic Building Society in Stoke-on-Trent depicts two squirrels in ermine robes above the motto 'Save Safely, Build Surely', which the mortgage lender's customers have duly done for over 150 years.
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Here are some of the retailers that will support Android Pay at launch: When it launches in the UK, Android Pay will work with MasterCard and Visa credit and debit cards from banks including HSBC, Bank of Scotland, First Direct, Halifax, Lloyds Bank, M&S Ban, MBNA and Nationwide Building Society.
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HBOS, formed from the merger in 2001 of former English building society Halifax and the 300-year-old Bank of Scotland, was close to collapse in 2008 after the failure of Lehman Brothers caused money markets to seize up, meaning HBOS could not get the funding it needed for its ballooning loan book.
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While DZ BANK's exposure to higher-risk business lines including commercial real estate (largely at DG HYP), ship finance (at DVB) or leasing (VR Leasing) remains material, its overall risk profile benefits from significant diversification including its large and fairly low-risk building society (Bausparkasse Schwaebisch Hall AG (BSH)), insurance businesses (R+V, Insurer Financial Strength rating of 'AA-') and sizeable and performing asset management subsidiary (Union Investment).
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Hoping to curtail Apple's head start in the region, Google has just announced that Android Pay is coming to the UK. The company's mobile wallet will roll out "in the next few months" — that's as specific as the blog post gets — with support for MasterCard and Visa credit and debit cards from partners including the Bank of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, M&S Bank, MBNA, and Nationwide Building Society.
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