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Share Name Share Symbol Market Type Share ISIN Share Description
Bradford & Bing LSE:BB. London Ordinary Share GB0002228152 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 20.00 0.00 00:00:00
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Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 124
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 20.00 GBX

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Posted at 26/2/2021 14:28 by knowing
Just saw this and bought back some memories

https://uk.advfn.com/stock-market/NYSE/C/share-news/UK-Government-Sells-Bradford-Bingley-Northern-R/84445983

Posted at 15/5/2017 09:08 by loganair
If RBS share holders have been offered some settlement over their Rights Issue, how about us B&B share holders???

B&B share holders were also mislead when it came to B&B´s Rights Issue saying that after gone through that B&B will have the second highest Tier 1 Capital Ratio and sufficent funding to cover the next 18 months. With in a month B&B had been either been sold off to Santander or other parts Nationalized.

It seems overal that the government are going to make a good profit out of B&B and seems to me that this profit is going to cover some of the losses that it has made by being in RBS.




Royal Bank of Scotland (RBS) has held last-ditch legal talks with former investors ahead of a trial expected to see Fred Goodwin giving his first account of the lender's collapse into a decade of state ownership.

Lawyers for RBS last week met representatives of the final remaining shareholder action group suing it over the bank's £12bn rights issue in 2008.

Sources familiar with the meeting, which took place last Tuesday, say that it concluded with little prospect of a settlement.

There are now just eight days to go until the trial is due to begin.

RBS is not thought to have used the meeting to raise its settlement offer above the 43.5p-per-share deal it agreed to pay some members of the action group last month.

Thousands of small investors, as well as some institutions, are pressing ahead with their claim despite having instigated last week's meeting, according to people close to the talks.

"They are miles apart in terms of agreeing a deal, and time is running out," one insider said this weekend.

Some members of the RBoS Shareholder Action Group are willing to settle but are said to have been holding out for a deal worth at least 92p-per-share, just under half of what investors paid in the ill-fated rights issue.

Others, however, are determined to see Mr Goodwin and his former senior colleagues give a public account of their actions.

Mr Goodwin, who forfeited his knighthood following the implosion of RBS, has never spoken publicly about the events leading up to its £45.5bn taxpayer bailout, but is due to take the stands next month.

RBS has already reached settlements with four other claimant groups in recent months, and had set aside up to £800m to bring an end to all of the shareholder legal claims.

The investors allege that RBS, under Mr Goodwin's leadership, misled them about the state of the bank's finances when it raised billions of pounds from them just months before it had to be rescued.

Mr Goodwin, along with Sir Tom McKillop, the former RBS chairman, are named alongside the state-backed bank as defendants in the case.

The Government continues to own more than 70% of the bank, and there is little prospect of it ever recouping the money it paid to avert its outright collapse.

Most of the 27,000 members who were originally part of the RBoS Shareholder Action Group were ordinary retail investors who lost money after subscribing to the new RBS shares.

To date, more than £100m has been spent by the bank defending the claims, a bill which includes the legal costs of Mr Goodwin and other former directors.

Those legal fees have drawn criticism from investors and politicians, but were defended by Sir Howard Davies, RBS's chairman, at its annual meeting last week.

Sir Vince Cable, who was Business Secretary in the 2010-15 Coalition Government, said last week that the legal bill was "obscene".

"The Treasury, as majority shareholder, should have intervened," he wrote in an opinion piece for City AM.

"Chancellor Philip Hammond and [RBS chief executive Ross] McEwan must both now wonder whether that money would have been better invested in a settlement.

"The claimants are seeking £700m, including interest, and have understandably turned their noses up at offers amounting to barely 20 per cent of this claim."

Posted at 03/4/2017 07:34 by loganair
Government sells B&B loans for ‘excellent value’ £12bn:

The Treasury will net £11.8 billion from the agreed sale of Bradford & Bingley loans it bought during the financial crisis.

UK Asset Resolution (UKAR), the body established to oversee the government’s stakes in bailed-out banks, has struck a deal to sell the portfolios to Prudential and assorted Blackstone funds.

The body described the price as ‘at the upper end of expectations’ and ‘excellent value’. A second tranche of loans will be sold later with a view to repaying the remainder of the loan by March 2018.

Chancellor Philip Hammond said: ‘The sale of these Bradford & Bingley assets for £11.8 billion marks another major milestone in our plan to get taxpayers' money back following the financial crisis.'

Today’s sale is the first in the programme. The programme of sales is expected to conclude in full before the end of 2017-18.

UKAR has also been significantly reducing its stake in Lloyds, which is now below 3%, but problems at RBS, which announced an eighth consecutive year of losses earlier in 2017, have meant its stake in the Scottish bank remains above 70%.



In my good opinion the profit the Government is making from the sale(s) of the B&B loan book are being used to pay for the losses made from the virtual take over of RBS which the Government are sitting on huge losses with instead of being returned to us, the B&B shareholders.

In otherwords it seems to me that the B&B shareholders are paying for the mistakes made by the BOD of RBS and the Government taking it over as being ´Too Big to fail.´

If I had been in the Government shoes I would have wrapped up the good parts of RBS into NatWest and given RBS shareholders 1 new NatWest share for every RBS share held and to let the rest of RBS go bankrupt would in my opinion have been the good and right thing to do.

The Governemnt is expect to break even when it comes to Lloyds.

Posted at 27/3/2017 08:01 by loganair
I agree with those who say it is the pensioners who have really lost out here. When B&B went into liquidation it had one of the largest number of share holders, around 960,000 many of these where pensioners who had holdings of less than 2,000

When B&B first went into liquidation I wrote to the powers to be and I´ve posted on this thread that I feel the most fair and reasonable thing for the government to do is to pay 55p per share, the price of B&B´s Rights Issue, upto a maximum of 2,500 shares on anyones holdings.

This would mean that over 650,000 share holders will get their entire share holding in B&B compensated for at 55p per share which I understand will cost around only £100mln and will make many people happy with the final out come.

Posted at 15/3/2016 21:03 by optomistic
pvb We are not talking about losing money on a share that has traded badly but a share that has been taken off the market by the government to the detriment of the shareholders. The facts, yes facts, before Broons intervention are all well documented in earlier posts on this thread.
Oh and just to mention I like many others on this thread I am sure have lost money on share dealings and accepted that it is part of the risk of holding shares.
But not the way the loss was imposed upon us with our BB holding.

Posted at 15/3/2016 17:02 by optomistic
debbgee...and so I did BB and Lloyds in good measure, however with good fortune Lloyds (now a much larger position) will take care of my BB losses although I feel that what Broon did to BB was most wicked!
Posted at 11/1/2016 14:45 by pvb
loganair 11 Jan'16 - 14:25 - 18613 of 18613

I posted a year before B&B was nationalized that in my good opinion that with in a year Northern Rock, Alliance and Leicester and B&B will no longer exist as it was obvious that the big boys wanted them out of the picture because these 3 ex-building societies were taking to higher percentage share of the mortgage market.

Sadly, that's exactly what happened.

Most of us noticed at the time that something else had happened.

The Rights Issue was fully under written and many share holders took up their rights.

So it all worked out OK then?

https://en.wikipedia.org/wiki/Bradford_and_Bingley#Subprime_mortgage_crisis

B&B was said to have the second highest tier 1 ratio of any bank and were saying they had sufficient funding for the next 18 months so how come just 6 weeks later they had to be nationalized.

So how come they launched a rights issue?

Both HBOS and RBS were far more insolvent then B&B ever was and they got backing from the Government.

B&B wasn't HBOS and RBS. It was a relatively small mortgage bank.

In my good opinion B&B was never insolvent, just had a short term liquidly problem and did not have to be nationalized.

But they couldn't raise the money they wanted.

Get over it.

Posted at 11/1/2016 14:25 by loganair
I posted a year before B&B was nationalized that in my good opinion that with in a year Northern Rock, Alliance and Leicester and B&B will no longer exist as it was obvious that the big boys wanted them out of the picture because these 3 ex-building societies were taking to higher percentage share of the mortgage market.

Sadly, that's exactly what happened.

I agree, that when B&B came with their Rights Issue the people in the know already were a where what was soon going to happen to B&B.

The Rights Issue was fully under written and many share holders took up their rights.

B&B was said to have the second highest tier 1 ratio of any bank and were saying they had sufficient funding for the next 18 months so how come just 6 weeks later they had to be nationalized.

Strange how the CEO of Alliance and Leicester, once the A&L deal with Santander had been announce then became CEO of B&B then just weeks later he sold the deposit book to Santander. The whole thing stinks of fraud by the big banks who the Government colluded with. In my good opinion there can be no other explanation of what happened.

Over 900,000 share holder lost money, including many elderly and pensioners in a company that only once made a loss. The year before B&B reported a good profit and the year after nationalization both the Government owned Mortgage book and the now owned Santander deposit book made huge profits and have continue to make good and increasing profits ever since.

Both HBOS and RBS were far more insolvent then B&B ever was and they got backing from the Government.

In my good opinion B&B was never insolvent, just had a short term liquidly problem and did not have to be nationalized.

Why I keep harping on is that to me, B&B was stolen from its share holders.

Posted at 19/6/2015 13:13 by loganair
Goldman Sachs To Advise UK On Bank Sales:

Goldman Sachs is to advise the Government on the sale of its remaining stakes in Britain's bailed-out lenders at the same time as one of its divisions tries to acquire billions of pounds of bank assets from the taxpayer.

Sky News has learnt that Goldman was hired as the privatisation adviser to UK Financial Investments (UKFI) just days after George Osborne announced that he would begin selling the state's shares in Royal Bank of Scotland (RBS) within months.

Goldman's appointment may prove to be controversial given criticism of its role advising the Treasury on the nationalisation of Northern Rock in 2008, and its securities division's interest in buying Granite, a £13bn mortgage portfolio put up for sale by the Chancellor earlier this year.

Underlining the web of relationships managed by investment banks, the Wall Street giant worked with Bradford & Bingley on its attempts to stave off collapse in 2008, and attempted to broker a rescue deal led by TPG - one of the firms that Goldman is now partnering with in an effort to buy the Granite assets.

To add a further layer of complexity, Goldman will be advising UKFI on the sale of its shareholding in RBS, while also competing against RBS as a rival bidder in the Granite auction.

Goldman will replace JP Morgan as UKFI's privatisation adviser, and will assist the Treasury agency with its plans for placing billions of pounds of shares in Lloyds Banking Group and RBS.

Sources said Goldman - like JP Morgan before it - would be paid for its work with UKFI, although that may involve a discount to its usual commercial fee, in line with much of the work done for the Government on asset privatisations in recent months.

The Conservatives committed during the General Election campaign to launching a retail offering of Lloyds shares within 12 months, with bonus shares offered to investors who retain their stakes for a minimum period.

Outlining his plans for RBS in a speech at the City’s Mansion House last week, Mr Osborne described the lender as "the hardest nut to crack", adding:

"I was not responsible for the bailout of RBS or the price paid then for shares bought by the taxpayer: but I am responsible for getting the best deal now for the taxpayer and doing whatever I can to support the British economy.

"There is no doubt that starting to sell the Government’s stake in RBS is the right thing to do on both counts."

The Chancellor pointed to advice from the investment bank Rothschild and Mark Carney, the Bank of England Governor, that further delaying the sale made little sense, even though a disposal of taxpayers' 78% stake in RBS at the current share price would result in a £7bn loss.

Rothschild's report suggested that when fees paid to the Treasury by rescued banks were taken into account, taxpayers could make an aggregate £14bn profit if the remaining stakes in Lloyds and RBS were sold at their current levels.

The appointment of Goldman comes as RBS overhauls its own City relationships, with Bank of America Merrill Lynch expected to replace UBS as one of the taxpayer-backed lender’s corporate brokers.

Jim O'Neil, a respected investment banker who previously ran UKFI, will be among the key figures overseeing the relationship if the move is confirmed.

Spokesmen for both UKFI and Goldman declined to comment on Thursday.

Posted at 02/5/2015 14:11 by pwhite73
What is most annoying is that prior to its nationalisation BB was only capitalised at about £250 million due to an already collapsed share price.

That is all the compensation the government would be required to hand back to BB ordinary shareholders. If memory serves me correct just before nationalisation the shares were trading at about 20p.

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