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demutualize |
Also found in: Financial, Wikipedia | 0.02 sec. |
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demutualize, demutualise [diːˈmjuːtʃʊəˌlaɪz]
vb
(Economics, Accounting & Finance / Banking & Finance) to convert (a mutual society, such as a building society) to a public limited company or (of such a society) to be converted demutualization , demutualisation n Translations demutualize vi (Fin) → sich in eine Kapitalgesellschaft umwandeln Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | The Abbey National demutualised in 1989 and after a lull of a few years suddenly, within the space of a few months in 1997, the Halifax, the Alliance and Leicester, the Bristol and West, Northern Rock, and the Woolwich all demutualised. Each of the demutualised building societies has since run into problems as their financial models proved to be unsustainable, particularly during the economic slowdown of the last 18 months. The rise of the demutualised building society began in the 1980s when the Tory government allowed banks to offer mortgages, which had traditionally been the preserve of building societies. |
Demutualised |
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