Problems for Manchester Building Society

Money, investing, mutuals etc

Problems for Manchester Building Society

Postby planteria » Thu Jan 22, 2015 4:16 pm

Nationwide have pushed for a review of what has gone wrong..

http://www.moneymarketing.co.uk/news-an ... 80.article

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Re: Problems for Manchester Building Society

Postby planteria » Fri Jan 23, 2015 2:23 pm

are you still a MancPIBS man Oggy?
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Re: Problems for Manchester Building Society

Postby Oggy » Fri Jan 23, 2015 5:40 pm

Yup. :)
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Re: Problems for Manchester Building Society

Postby planteria » Fri Jan 23, 2015 11:08 pm

and what are your thoughts re. the current problems?
and how are PIBS doing?
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Re: Problems for Manchester Building Society

Postby planteria » Mon Mar 28, 2016 10:15 pm

the MBS problems continue..

http://mbsweb.blob.core.windows.net/mai ... counts.pdf

a merger to be announced soon? :idea:
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Re: Problems for Manchester Building Society

Postby planteria » Sat Apr 16, 2016 9:35 am

"The long-term future of Manchester Building Society has been thrown into doubt after it reported a loss for 2015 and warned of “material uncertainty”.

David Harding, its chairman, said the board was doing all it could to save the building society.
"

http://www.theguardian.com/money/2016/a ... it-savings

http://www.telegraph.co.uk/personal-ban ... -survival/

http://mbsweb.blob.core.windows.net/mai ... s-2015.pdf
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Re: Problems for Manchester Building Society

Postby patientperson » Sat Apr 16, 2016 10:07 am

I reckon the reserves will take a hit to keep the directors happy. When it is all depleted and they have moved on then there will be nothing left for the members.
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Re: Problems for Manchester Building Society

Postby planteria » Sat Apr 16, 2016 10:25 am

perhaps pp, but it may be that pressure will force changes sooner.. i'm not expecting that to result in a windfall for members though. Grant Thornton have been fined £975,000 for shortcomings in it's audits of the society.
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Re: Problems for Manchester Building Society

Postby planteria » Sun Apr 17, 2016 8:23 am


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Re: Problems for Manchester Building Society

Postby Trustee » Thu Aug 11, 2016 11:39 am

Oggy,
Did you just sell your holding. I didn't see the RNS ;)
They are down 15% this morning, almost half issue price. Something is cooking ..or melting I should say :/
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