06 July 2012
In light of the publication of HM Treasury’s paper, The Future of Building Societies, Graham Beale, Chief Executive of Nationwide Building Society said:
“I warmly welcome the Government’s recognition that building societies provide an important and distinctive alternative for consumers. As the largest building society, Nationwide is unique on the high street, providing a mass-market, mutual challenge to the banks across the full range of retail financial services.
“We want to continue this vital role, expanding carefully over time into new areas such as SME banking. The Government’s commitment to review and revise building society legislation to support these aims – whilst maintaining the low risk approach that has served our members well throughout the crisis – is a positive step forward.”