Bradford & Bingley
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| Bradford & Bingley | |
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| Type | Public |
|---|---|
| Founded | 1865 |
| Headquarters | Bingley, West Yorkshire |
| Key people | Rod Kent, Chairman Steven Crawshaw, Group Chief Executive |
| Industry | Finance |
| Products | Financial Services |
| Revenue | £2,383.0m (2006) |
| Operating income | £609.4m (2006) |
| Net income | £177.7m (2006) |
| Employees | 7500 |
| Website | www.bbg.co.uk |
Bradford & Bingley plc (LSE: BB.) is a British bank headquartered in the Yorkshire town of Bingley. It was formed by the flotation of the former Bradford & Bingley Building Society on 4 December 2000. Previously, as a building society, the Bradford & Bingley was owned by its customers. When it floated on the London Stock Exchange, members of the society received free shares worth up to £5,000.
Bradford & Bingley Building Society was formed in 1964 as a result of the merger of the Bradford Equitable Building Society and the Bingley Permanent Building Society, both of which were established in 1851.
Today Bradford & Bingley is one of the United Kingdom's largest mortgage lenders. Bradford & Bingley's approach to mortgage advising has been innovative in the past as they advised on and sold other providers mortgages as well as their own from 2000-2006. In late 2006, as part of their aim to become the UK's leading Specialist Lender, Bradford & Bingley reverted to providing only their own mortgages .
The group runs two distinct businesses: retail and lending.
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[edit] Retail
Bradford & Bingley distributes brand-name and third party financial products. They have over 500 retail outlets with over 1,000 financial advisors offering face to face advice and online services.
[edit] Lending
B&B has its own lending products including mortgage and commercial real estate products. They have an offshore subsidiary based in the Isle of Man.
[edit] Mortgage Express
Bradford & Bingley purchased Mortgage Express from the then Lloyds Bank in 1997. Bradford & Bingley have developed Mortgage Express into a 'niche' lending brand dealing with higher risk lending such as Buy to Let and Self Certification.
[edit] Sponsorship
Bradford and Bingley sponsors both Bradford City FC and Yorkshire County Cricket Club. Bradford and Bingley has recently ceased being stadium sponsors of Bradford City FC, which it has been since 1999. However, it does remain the club's team sponsor, an agreement which commenced in 2006.
[edit] External link
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