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Wednesday 01 May 2024 12:14 pm|Updated:Saturday 01 June 2024 9:27 amTakeover bids, millionaire CEOs and angry members: Building societies are looking a lot like the big banksBy: Lars MucklejohnBanking and Fintech ReporterShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailYorkshire Building Society felt the pressure from reduced interest rates in its annual results report.Britainrsquo building societies have long established themselves as boring, sensible and democratic alternatives to the major banks. However, the first few months of 2024 have raised questions over these hallmarks.As major lenders enjoyed bumper profits on the back of interest rate hikes from the Bank of England last year, they found their coffers full of spare cash.Whereas listed banks distribute excess capital to shareholders via dividends and buybacks, mutually-owned building societies tend to do this by reinvesting stanley cup in the business or offering their member owala wasserflasche s better rates on savings and loans.In the case of Nationwide, the biggest society, it paid pound;344m ndash; roughly 15 per cent of its annual profit ndash; directly into around 3.4m eligible customersrsquo; accounts last June.However, in recent months societies have started using their extra cash for more adventurous pursuits ndash; big-ticket polene store acquisitions and boardroom pay hikes.How to spend a spare pound;3.7bnFor a firm that has for years tried to differentiate itself from the Xqle Air Astana: Why we rsquo;re taking off on The London Stock Exchange
Wednesday 02 November 2016 8:31 pmIreland is launching a charm offensive on the UKrsquo financial services market after BrexitBy: Mark Sands polene ca ShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailThe Irish government has embarked on a charm offensivein a bid to lure parts of the UK s financial services market to Dublin in the aftermath of Brexit.Financial services minister Eoghan Murphy is meeting firms in the capital this week to discuss the merits of the Ireland as a gateway to Europe.Just days after Dublin pitched itself to Europe as the ideal home for the London-based European Banking Authority, Murphy told City A.M. he is confident Ireland s financial services market will gain from Brexit.While Murphy is in the City to lead a delegation of Irish financial services compa owala cup nies looking to increase their relationship with the UK, he said the trip also presents opportunities to meet companiesconsidering the consequences of the referendum vote.Read More:SNP meets City lobbyist as Edinburgh seeks London s financial crownIf that means locating a new operation or moving an existing operation outside of the UK, well, these companies are doing contingency planning and Ireland is on the list. If there s an opportunity to have discussions around that then we ll stanley cup take them, he said.Brexit only underscores what we think are the opportunities and advantages to locating in Ireland and using Ireland as a gat
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