29th Sep 2008 07:50
Bradford & Bingley plc
Public Ownership and Sale of Savings Business
29 September 2008
The Board of Bradford & Bingley plc ("Bradford & Bingley", "the Company" or "the Group") note the announcement by H M Treasury that it has today acquired all the shares in Bradford & Bingley, that all share options and other entitlements to shares issued by the Company have been extinguished and that the Group's savings business and branches have been transferred to the Banco Santander group ("Santander"), in each case, by way of a Transfer Order made under the Banking (Special Provisions) Act 2008.
Santander is a group of banking and financial companies that operates through a network of offices and subsidiaries across Spain and other European and Latin American countries (including the United Kingdom). With the transfer of our savings business to Santander, savings customers can be confident that their money is secure in a well funded bank. The rest of the Group's business, including the mortgage operation, has been taken into public ownership by the Government. Mortgage customers should continue to make payments as usual. Both the savings business and mortgage operations will continue to operate as normal through these changes and branches, ATMs and on-line accounts will all be operating as usual.
END
Further information
Further information on the Group and its business is available from the Company's website www.bbg.co.uk.
Enquiries
For further information please contact:
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Investor Relations Katherine Conway +44 (0) 1274 554928 Neil Vanham +44 (0) 1274 806341 |
Media Relations Matthew Newton Finsbury +44 (0) 20 7251 3801 Nickie Aiken, Press Office +44 (0) 20 7067 5645 |
Related Shares:
Banco Santander