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About: West Bromwich Building Society     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:ThriftInstitution108422524, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingcompanyschema:BankOrCreditUnionschema:Organizationdul:Agentdul:SocialPersonagentwikidata:Q24229398OrganizationBusiness enterpriseyago:WikicatBuildingSocietiesOfEnglandyago:WikicatOrganizationsEstablishedIn1849yago:Abstraction100002137yago:BuildingSociety108422930yago:Company108058098yago:DepositoryFinancialInstitution108420278yago:FinancialInstitution108054721yago:Group100031264yago:Institution108053576yago:Organization108008335yago:YagoLegalActoryago:YagoLegalActorGeoyago:YagoPermanentlyLocatedEntitybankorganisationyago:SavingsAndLoan108422714yago:SocialGroup107950920yago:ThriftInstitution108422524 New Facet based on Instances of this Class

West Bromwich Permanent Building Society was formed in 1849 and remained a very local society for over a 100 years, only adding a few local branches in the 1930s. The appointment of Frank Dilkes as Managing Director in 1965 led to substantial regional expansion and within little more than a decade there were 67 branches. Later financial expansion through extended use of wholesale funds, and lending on commercial property meant that the Society became over-extended; losses were incurred, its credit rating was downgraded and in 2009 there was speculation about its future.