Bristol & West building society takeover by Britannia

thebeak

Did anyone with a Bristol & West account get any kind of payout when they merged with britannia? I mean in the carpet bagging sense??

bristolleedsfan

thebeak wrote: »

Did anyone with a Bristol & West account get any kind of payout when they merged with britannia? I mean in the carpet bagging sense??

nope cos B+W was owned by Bank Of Ireland, was when BOI bought B+W that the payouts were gained. :j

thebeak

Do you know what year this happened? Are there any carpet baggers who gained from this?

bristolleedsfan

thebeak wrote: »

Do you know what year this happened? Are there any carpet baggers who gained from this?

http://en.wikipedia.org/wiki/Bank_of_Ireland ( 1996)

Those under 2 year members including carpetbaggers got preference shares worth around 250.00.
Over 2 year saving members got minimum 500.00 cash :j ( think they also got percentage of the lower of their balances on two dates, day of announcement and subsequent date)

Should be noted that Bank of Ireland only sold Bristol And West branches and Savings portfolio to Brittannia BS. ( Bristol + West Savings rates were dire so good match for Brittannias savings portfolio. :rolleyes:

bilbo_2

strong rumours that derbyshire bs will be taken over this year due to hard times

nilrem_2

thebeak wrote: »

Do you know what year this happened? Are there any carpet baggers who gained from this?

As I remember I had a very good payout when Bank of Ireland took over B&W, can't remember the exact figure but it was around 3 grand.

bristolleedsfan

bilbo wrote: »

strong rumours that derbyshire bs will be taken over this year due to hard times

As per usual the rumours are coming from long term carpet baggers like yourself. :rolleyes:

There have already been posts re derbyshire, if u search for earlier posts on a subject as per forum rules.

Splott_Boy

Are these now a good buy with savings rates rock bottom ?

Any thoughts ...... ?

cottager

Splott_Boy wrote: »

Are these now a good buy with savings rates rock bottom ?

'These' meaning.... ?
Derbyshire's already merged with Nationwide.

baby_boomer

Existing Britannia members lost out when we took over B&W savers. In a sense this was a "windfall" for B&W savers at Britannia members' expense. [The Britannia board, of course, could use the merger to justify windfall bonuses for themselves.]

The B&W merger was a major factor in the reduction in the Britannia Members' Reward last year as more people became eligible for a payment [B&W didn't bring any assets to the combined organisation since Bank of Ireland kept the B&W mortgages.]

Will 2008 be the last ever Britannia Members' Reward payout?