Tag: N&P

N&P fined for mis-selling Keydata products

N&P fined for mis-selling Keydata products

The Financial Services Authority (FSA) has today announced that it has fined the Norwich and Peterborough Building Society (N&P) £1.4 million for giving unsuitable advice on its Keydata products. The Watchdog said the group failed to properly assess the financial circumstances of many of its customers and often designated them as having a higher tolerance [...]

April 18, 2011 | 0 Comments More
Norwich and Peterborough to repay £57m to Keydata investors

Norwich and Peterborough to repay £57m to Keydata investors

The Norwich and Peterborough Building Society (N&P) is to repay £57 million in compensation to customers who were sold its Keydata product. N&P sold Keydata products from 2005 but it was placed into administration in 2009, with 30,000 UK investors facing the loss of £450 million. The collapse of Keydata represents the largest investment failure [...]

March 23, 2011 | 0 Comments More
Norwich & Peterborough confirms merger interest

Norwich & Peterborough confirms merger interest

Norwich & Peterborough Building Society (N&P) has today confirmed it has received an approach about a possible merger. The building society, which is Britain’s tenth largest, said it had received “a number of expressions of interest,” as well as the possibility for the injection of fresh capital. In a statement, the firm said: “Like other [...]

December 16, 2010 | 0 Comments More
Yorkshire and Chelsea merger leads to job losses

Yorkshire and Chelsea merger leads to job losses

It emerged yesterday that Yorkshire Building Society and Chelsea Building Society were in advanced merger talks but today the Yorkshire has revealed that a tie-up would lead to a number of job losses and a £200 million write-down on Chelsea’s bad debts. “The merger will lead to a number of job losses,” the two societies [...]

December 2, 2009 | 0 Comments More
Branch closures expected at Norwich & Peterborough Building Society

Branch closures expected at Norwich & Peterborough Building Society

Norwich & Peterborough (N&P), which is Britain’s tenth largest society, is to close 10 of its branches, putting more than 50 jobs at risk. The branch closures represent one fifth of its 54-strong network and the news comes just a day after it emerged that Chelsea and Yorkshire Building Societies were in merger talks. N&P [...]