Manchester Building Society's 2015 Accounts

Manchester Building Society's 2015 Accounts 

The Directors of Manchester Building Society ("the Society") announce that the Society is in the process of finalising its accounts for the year ending 31 December 2015 and plan to issue them before the end of March. The Directors expect the accounts to refer to a material uncertainty surrounding the long-term future of the Society given the continuing decline in the scale of operations.

The Society has not been active in the lending market since 2013 and has no plans to re-enter the mortgage market in the immediate future. The Society's mortgage assets have reduced by approximately 40% over the last three years. The Society's liquidity position remains strong.

The Directors will be giving further consideration to the future strategy of the Society over the coming months.

Enquiries 

Andy Donald - Maitland 

020 7379 5151