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B&B to focus on core lending business

Bradford & Bingley announced today as part of its strategic review that it is to focus on its specialist lending business Mortgage Express and on its own-brand residential, commercial and housing association lending.

Group chief executive Steven Crawshaw says: “Bradford & Bingley will simplify, clarify and continue to build upon its core propositions of specialist lending and the retailing of financial services products on the high street. The actions we are taking will allow increased focus of management and financial resources on core activities, will increase the profit generating potential of a reshaped retail business and will give rise to substantial reduction in the cost base of the Group.”

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