Bradford & Bingley

Bradford & Bingley, is a financial institution in the United Kingdom in English legal form of a plc. The headquarters is located in Bingley, Yorkshire. The company was nationalized on 29 September 2008.

History

The company was created by the IPO of the company Bradford & Bingley Building Society on 4 December 2000. Previously, Bradford & Bingley was as a housing association property of its customers. Bradford & Bingley Building Society itself was created in 1964 from a merger of the Bradford Equitable Building Society and the Bingley Permanent Building Society, both of which go back in its history to 1851.

Currently, Bradford & Bingley one of the largest mortgage lenders in the UK. Besides, it is the fourth largest estate agency in the UK and is in the two sectors sales and lending subdivided.

Financial crisis

In the wake of the U.S. financial crisis, the company was nationalized by the Treasury on 28 September 2008. With the nationalization of the UK mortgage lender thus assumes liabilities in the amount of 42.4 billion pounds.

After the nationalization of the 191 branches and 141 branches for 612 million pounds were sold to Spain's Banco Santander. The 2.7 million customers ( with deposits amounting to over 20 billion pounds ) are currently still under the care of branding Bradford & Bingley. As of 2010, the branches of Alliance & Leicester and Abbey National in addition to the Bradford & Bingley branches appear under the branding Santander.

Sponsorship

Bradford & Bingley is a sponsor of the football club Bradford City and the Yorkshire County Cricket Club.