Building Society Mergers / takeovers possible windfalls

innovate

planteria wrote: »

NCBS has £1.261bn in assets. c.50,000 members. c.£25k windfall to be had?:dance:...and you de-bagged:wave:

Love it how you ignore Liabilities in your calculations. Or their commitment to staying a mutual.
http://www.ncbs.co.uk/web/FILES/AboutUs/Annual_Report_Accounts_2013.pdf

PeacefulWaters

planteria wrote: »

NCBS has £1.261bn in assets. c.50,000 members. c.£25k windfall to be had?:dance:...and you de-bagged:wave:

That is possibly the most ridiculous interpretation of the value of a building society membership ever seen.

As for the whole demutualisation / merger debate:

1. Why would a building society choose to demutualise?

2. Why would a bank wish to acquire a building society in today's world?

3. Why would two building societies wish to merge and at the same time reduce their capital adequacy by paying reserves to members of the smaller society?

Find the positive reasons and there will be mileage in it. But (1) destroys them. (2) might apply for the acquisition of a branch network. But who wants more branches? (3) is nonsensical.

planteria

yes, i was joking..

Froggitt

planteria wrote: »

you were involved in the Poll Tax Riots and were a Striking Miner, Froggitt?

Actually no. But why let the truth get in he way of a good story. Like when arfur scargills combover got stuck in the doors of a lift.:rotfl:

planteria

i was on South Audley Street last week, as it happens. those TMB days were a good laugh..i wonder how some of those guys are: Christopher, John van der Mark...:think:

when you say "Passport" what do you mean? Did NCBS used to provide something different to a 'normal' passbook?

Froggitt

It looked as official as the old GB blue passport!!! Im sure I could have flogged it to illegal immigrants for thousands.

planteria

a fake passport isn't that expensive, Froggitt;) i was given a NCBS passbook for the first time the other day & it is just a normal-looking white one.

and yes, PeacefulWaters, i was joking. i wouldn't expect anything to change much with NCBS in the near future. the society, as it stands now, would not demutualise. i guess in theory it could 'do a Kent' and become something different, with a JCFlowers-type organisation wanting to get a foothold in the UK market:

https://www.bbc.co.uk/news/10594824

...that would have to be unlikely. but they are a one-branch society, with a customer base in an affluent part of the country, so as a long-standing member i am happy to leave £100 with them & see how things pan out during the coming years.

Froggitt

And guess how much the "members" of KRBS own of KRBS.........0.3%.

Froggitt

planteria wrote: »

i was on South Audley Street last week, as it happens. those TMB days were a good laugh..i wonder how some of those guys are: Christopher, John van der Mark...:think: ?

Ord and Becles are knocking around MSE. Lino, Rich Yendall, Artist, Pilot, Danbert, Trustee......all old names from the past.


There were a couple of meetups around Leicester Square as well......and there were also a few at Trustees office in London.


Cos I still use the same userID name on various forums, I get stalked regularly by ex-TMBers e.g. Artist stalked me on Flyertalk!!!

planteria

Froggitt wrote: »

And guess how much the "members" of KRBS own of KRBS.........0.3%.

i know...the way that the KR-JCF link-up has progressed is hard to believe. hence talk of £15 windfalls:whistle:..

but the concept that a Building Society can be deemed 'desirable' by another organisation, as an acquisition or partner, remains. it's not as simple as 'merge with another Building Society' or 'demutualise & float on the Stock Exchange'..there may be other outcomes, not yet thought of, as part of the further consolidation of the financial services industry.

& let me know if there are any gatherings:beer: