Abbey National

Abbey National building society

The Abbey National Building Society was formed following the merger of the Abbey Road Building Society and the National Building Society in 1944.

On 12th July 1989, Abbey National converted to plc and floated on the London Stock Exchange.

Abbey National is the sixth largest bank by assets (as at July 2002) in the UK, the 16th largest in Europe, and the 30th largest in the world. It is the second largest provider of mortgages and savings in the UK.

Abbey National's main head offices are in London, Milton Keynes, Bradford, Glasgow and Edinburgh. The Group is also represented globally, with offices in Eire, Isle of Man, Channel Islands, France, Italy, Gibraltar, Hong Kong, Australia and the United States.

Abbey National employs around 28,300 people full-time as at 30th December 2002. Abbey National has around 1.9 million shareholders.

Abbey National's personal financial products and services include mortgages, savings, investments, banking, general insurance and life assurance.

Abbey National Commercial banking includes asset financing, commercial lending operations, securities financing and risk management activities.

Abbey National service channels include branches, telephone, internet, digital TV, cash machines, WAP, independent financial advisers, and through their retail partners such as Safeway, Costa Coffee and Homebase. Abbey National has slashed its rates for all online personal loans across all loan tiers, with a best buy typical APR rate of 6.6% for loans above £5,000, offering outstanding value to people wanting to consolidate debts or purchase 'big ticket' items such as a new car or the holiday of a lifetime. The lowest available rate on Abbey National loans between £5,000 and £20,000 is 6.3%.

Abbey National provides customers with additional consumer protection by complying with the Banking Code.

Abbey National's Charitable Trust has given a total of £14 million to charities since it was set up in 1990. During the past year, Abbey National has increased their presence in the community through cash contributions, staff volunteering and matched donations. As a result, support worth a total of £2.8 million was given in 2002.

Source: www.abbeynational.com

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