Building Societies Start to Feel Heat As Crunch Bites Deeper ; Building Societies

Summary

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Building societies have until now had good reason to be smug amid the financial turmoil that has devastated many of their banking rivals.

But growing signs of a chink in the sector's armour is focusing attention on the mutual movement's contingency plans, with consolidation now said to be firmly on the agenda.

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Building Societies Start to Feel Heat As Crunch Bites Deeper ; Building Societies

As their stock market listed counterparts have revealed write- downs after write-downs amid the credit crunch, building societies have so far appeared relatively unscathed.

Their sizeable base of retail savings depo...

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