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Yorkshire Building Society says it will benefit from B&B conversion

Bradford & Bingley&#39s decision to convert into a bank will result in more business for the remaining mutuals according to Yorkshire Building Society chief executive David Anderson.


He says: &#34The net result of the Bradford & Bingley decision is another competitor handicapped.


&#34The vote suggests that Bradford & Bingley have attracted huge numbers of speculators over the last few years. As the only major society offering a possible windfall to new account holders they&#39ve been an obvious target.&#34


But Yorkshire have no intention of following in their footsteps. Anderson says his building society is committed to mutuality. At Yorkshire&#39s AGM two weeks ago almost 90 per cent of members supported the directors&#39 undertaking to retain mutual status.

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