List of building societies now banks

A list of building societies in the UK that gave up building society status (non-profit making, owned by members) and become profit making PLCs. This process is known as demutualisation.

List of former building societies and date of demutualisation.

  • Abbey National 1989 – Converted to PLC now known as “Santander”,  it is part of Spanish banking group – Banco Santander.
  • Cheltenham and Gloucester – 1994 – takeover by Lloyds Bank. Now part of Lloyds TSB.
  • National & Provincial Building Society 1995 – takeover by Abbey National Business merged into Abbey National, name no longer used.
  • Alliance & Leicester 1997 – Converted to PLC. Now has been merged into Santander group.
  • Bristol and West – 1997 – takeover by the Bank of Ireland. Remains a division of Bank of Ireland but its savings balances and branch network were transferred to the Britannia Building Society in 2005. No longer ceases to trade.
  • Halifax 1997 – Converted to PLC. Merged with Bank of Scotland in 1999, now part of Lloyds Banking group (in 2009). Trading name Halifax still used.
  • Northern Rock 1997 Converted to PLC. Nationalised in February 2008. Bought by Virgin Money in 2012.
  • The Woolwich 1997 Converted to PLC. Now part of Barclays plc.
  • Birmingham Midshires 1999 takeover by the Halifax. Now part of Lloyds Banking group. Trading name still used, but only by post and online.
  • Bradford & Bingley 2000 – Converted to PLC. Nationalised after credit crunch of 2008. Savings book sold to Santander.

 

Top 10 existing building societies

  1. Nationwide Building Society     £196,129m         Yes
  2.  Yorkshire Building Society     £32,647m
  3.      Coventry Building Society     £24,487m         Yes
  4.      Skipton Building Society     £13,910m         No
  5.      Leeds Building Society     £9,860m
  6.      West Bromwich Building Society     £7,417m         No
  7.      Principality Building Society     £6,450m         No
  8.      Newcastle Building Society     £4,419m         No
  9.      Nottingham Building Society     £2,478m         No
  10.     Progressive Building Society     £1,655m         No

Group assets Feb 2013.

Related

Building societies association

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