West Brom plans rebrand to reflect improved results
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West Bromwich Building Society is to rebrand to reflect its improving financial performance.
The society recently posted a loss after tax of £11.2m for the year to March 31, but this was a significant improvement on its loss of £39.3m the previous year.
West Bromwich has told members it will be introducing a new brand that reflects its place as a leading financial services provider in the Birmingham area.
A spokeswoman for the society says: “We are looking at a rebrand that will reflect the improvement we have seen in our financial results while also representing the vibrant and positive future that we have planned.”
West Bromwich created profit participating deferred shares last June to convert £182.5m of debt into shares.
The society recently signed a conditional agreement for the sale of Mortgageforce to the company’s management team for a nominal consideration. It plans to retain a minority interest.
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