Media and Public Affairs
Press release
BSA comment on Co-op being announced as preferred bidder in Lloyds Project Verde
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Contact: Hilary McVitty Date: 15 Dec 2011 |
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Commenting Adrian Coles, Director General of the BSA said:
"The BSA welcomes this expansion of the mutual sector in the banking market. Quoted banks often put the interests of shareholders above those of customers. All of our research shows that mutuals offer a better customer service; this change will markedly increase the number of branches in the High Street that are more interested in customer service than shareholder return."
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Contact:
Hilary McVitty
Tel: 020 7520 5926
Email: hilary.mcvitty@bsa.org.uk
Notes
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The Building Societies Association (BSA) represents mutual lenders and deposit takers in the UK including all 47 UK building societies. Mutual lenders and deposit takers have total assets of over £375 billion and, together with their subsidiaries, hold residential mortgages of over £235 billion, 19% of the total outstanding in the UK. They hold more than £250 billion of retail deposits, accounting for 22% of all such deposits in the UK. Mutual deposit takers account for 34% of cash ISA balances. They employ approximately 50,000 full and part-time staff and operate through approximately 2,000 branches.
Photographs of Adrian Coles are available from the BSA press office, or from the Association’s website at www.bsa.org.uk or Headlinemoney www.headlinemoney.co.uk
