Coventry and Stroud & Swindon in merger talks
Share
Coventry Building Society has confirmed that it is in talks with Stroud & Swindon Building Society over a potential merger.
The talks are at an early stage but if successful would create a mutual with combined assets of £20bn.
Stroud & Swindon has some 265,000 customers and just under £3bn worth of assets.
A statement from Coventry says: “Any merger, if agreed would acquire the formal approval of Stroud & Swindon’s savings and borrowing members as well as confirmation by the Financial Services Authority.”
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
