UK: Barnsley Building Society Taken Over
The Yorkshire Building Society is to takeover its smaller rival, the Barnsley Building Society.
The Barnsley said it was protecting itself against the possible loss of up to £10m deposited with Icelandic banks.
The deal is the latest in the trend towards further consolidation among the UK's building societies.
The deal is expected to be completed by the end of the year and there will be no windfall for Barnsley savers, nor will there be a vote of members.
The Barnsley said it was protecting itself against the possible loss of up to £10m deposited with Icelandic banks.
The deal is the latest in the trend towards further consolidation among the UK's building societies.
The deal is expected to be completed by the end of the year and there will be no windfall for Barnsley savers, nor will there be a vote of members.