BusinessCompany NewsSingle life suits small building societies

Single life suits small building societies

The finance director of a leading regional building society says the sector is unlikely to see another spate of mergers

Interviewed in Accountancy Age, FD of Hinckley and Rugby Building
Society, Chris White said: ‘I don’t see a reason for another big spate of
mergers. The small societies are in good shape. They have been through the worst
of the regulation and competitive pressures and seen off the carpetbaggers. I
can’t see why they would now want to throw in the towel.’

‘It’s been a bit surprising some of the organisations that have announced
their intention to merge.’

He also said HRBS would not be going down the demutualisation route. ‘We have
no intention of merging with any society in order to go public.’

For the full interview click here

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