Portman Building Society
From Wikipedia, the free encyclopedia
| Portman Building Society | |
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| Type | Building Society (Mutual) |
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| Founded | 1846 |
| Headquarters | Bournemouth |
| Key people | John Roques, Chairman Robert Sharpe, Chief Executive |
| Industry | Banking and Financial Services |
| Products | Savings, Mortgages, Investments, Loans, Insurance, Pensions |
| Revenue | Profit after tax £58.8 million GBP (June 2004) Total assets exceed £15 billion |
| Employees | 2,000+ |
| Website | www.portman.co.uk |
The Portman Building Society is a UK mutual building society and provides mortgages and savings accounts in the UK, as well as commercial lending. Its head office is located in Bournemouth and its administration centre in Wolverhampton. Currently it is the third largest building society in the UK and the largest regional building society in the South of England with 154 Branches and assets exceeding £15 billion.
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[edit] History
- 1846 Provident Union Building Society is established in Ramsbury, Wiltshire.
- 1881 Portman Chapel Temperance Permanent Benefit Building Society is founded in London.
- 1989 Portman merges with the Wessex Building Society.
- 1990 The Portman Wessex Building Society merges with the Regency & West of England Building Society to form Portman Building Society.
- 1993 Portman merges with the St Pancras Building Society.
- 1997 Portman merges with the Greenwich Building Society.
- 2001 Portman acquires Sun Bank, a specialist mortgage lender.
- 2003 Portman merges with Staffordshire Building Society, and both are re-branded.
- 2004 Sun Bank changes its name and is now known as The Mortgage Works.
- 2006 Merger with Lambeth Building Society[1].
- 2006 Merger with Nationwide Building Society announced[1].
[edit] Merger
On 12th September 2006 the Society announced plans to merge with the Nationwide Building Society creating a mutual body with assets of more than £150bn.
However, a protest group against the merger has been created[1], citing loss of jobs, customer service and members' interests as reasons the merger should not go ahead. The campaign has attracted significant media attention.
[edit] References
- ^ a b Building Society Mergers and Conversions since 1980 Building Societies Association website (Retrieved 5 April 2007)
[edit] External links
- Portman Building Society website
- Portman Protest.Com website Active campaign against the merger of the Portman Building Society with the Nationwide Building Society
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