West Bromwich Building Society

Founded in 1928, West Bromwich Building Society provides a wide range of mortgage and savings products at competitive rates to its customers (residents of the United Kingdom only). Savings accounts made with West Bromwich Building Society are covered by British deposit guarantee scheme.

Bank Category

Building societies

Services

Retail Banking

Financials

Total Assets (2017)
5 830.80 mln GBP  (+1.10%)
Total Members (2017)
448 447  (-0.50%)

West Bromwich Building Society is the 48th largest bank in the United Kingdom in terms of total assets. In 2017 its total assets were 5 830,80 mln GBP, providing the bank with the market share of 0.07%. West Bromwich Building Society is the 7th largest building society in the United Kingdom (out of 44 building societies) having market share of 1.55% amongst the building societies of this category. In 2017 there were 448 447 members in West Bromwich Building Society.

West Bromwich Building Society is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Ba3 (non-investment grade speculative).

West Bromwich Building Society participates in deposit guarantee scheme of the United Kingdom. This scheme covers accounts up to 85 000 GBP per bank per depositor.

Contacts

374 High Street, B70 8LR, West Bromwich, United Kingdom
44 1215257070
44 1215005961

West Bromwich Building Society is headquartered in West Bromwich.

Bank Identifiers

MFI ID
GB2790
Company Number
651B
Start Date
May 1928

Business Summary

Business Focus
providing competitive savings and mortgage products to its members
Services
retail banking
Products
savings accounts
mortgage loans
insurance
Eligible Clients
UK residents only

West Bromwich Building Society is focused on providing competitive savings and mortgage products to its members. West Bromwich Building Society provides services in the area of retail banking. The range of products offered by West Bromwich Building Society includes savings accounts, mortgage loans, insurance. West Bromwich Building Society makes its solutions available to UK residents only.

Financial Positions

Total Assets (2017)
5 830.80 mln GBP  (+1.10%)
Shares (2017)
4 427.30 mln GBP  (+0.96%)

In 2017 total assets of West Bromwich Building Society were 5 830.80 mln GBP. Growth compared to the previous period (2016) was 1.10%. The evolution of the total assets of West Bromwich Building Society is shown at Chart 1 below.

Total Assets of West Bromwich Building Society.

Chart 1. Total Assets of West Bromwich Building Society.

Recent changes in total assets of West Bromwich Building Society and its main components are shown in Table 1.

2016 2017 % change
Mortgages 4 739.0 4 776.5 +0.79%
Total Assets 5 767.1 5 830.8 +1.10%
Table 1. Recent changes in total assets of West Bromwich Building Society (mln GBP).

Recent changes in total liabilities of West Bromwich Building Society and its main components are shown in Table 2.

2016 2017 % change
Shares 4 385.1 4 427.3 +0.96%
Borrowings 784.6 846.2 +7.85%
Total Liabilities 5 767.1 5 830.8 +1.10%
Table 2. Recent changes in total liabilities of West Bromwich Building Society (mln GBP).

Membership Structure

Total Members (2017)
448 447  (-0.50%)

In 2017 there were 448 447 total members of West Bromwich Building Society. Decline compared to the previous period (2016) was -0.50%. The evolution of the total members of West Bromwich Building Society is shown at Chart 2 below.

Total Members of West Bromwich Building Society.

Chart 2. Total Members of West Bromwich Building Society.

Recent changes in total members of West Bromwich Building Society and its main components are shown in Table 3.

2016 2017 % change
Investing Members 399 000.0 394 225.0 -1.20%
Borrowing Members 55 000.0 56 150.0 +2.09%
Total Members 450 718.0 448 447.0 -0.50%
Table 3. Recent changes in total members of West Bromwich Building Society ( ).

Market Share and Rank (among Building societies in the United Kingdom)

Total Assets (2017)
7th (market share 1.55%)

In 2017 West Bromwich Building Society was ranked the 7th largest building society in the United Kingdom in terms of total assets, having 1.55% of the category's market share.

Market share of West Bromwich Building Society (among Building societies in the United Kingdom)

Chart 3. Market share of West Bromwich Building Society (among Building societies in the United Kingdom)

Several building societies having the market shares and ranks closest to West Bromwich Building Society are shown below.

RankNameTotal AssetsMarket Share
6 Principality Building Society8281.20 mln GBP2.20%
7 West Bromwich Building Society5830.80 mln GBP1.55%
8 Newcastle Building Society3621.50 mln GBP0.96%
 

Market Share and Rank (among banks in the United Kingdom)

Total Assets (2017)
48th (market share 0.07%)

In 2017 West Bromwich Building Society was ranked the 48th largest bank in the United Kingdom in terms of total assets, having 0.07% of the domestic market share.

Market share of West Bromwich Building Society (among banks in the United Kingdom)

Chart 4. Market share of West Bromwich Building Society (among banks in the United Kingdom)

Several banks having the market shares and ranks closest to West Bromwich Building Society are shown below.

RankNameTotal AssetsMarket Share
47 Nomura Bank International plc7940.78 mln USD0.07%
48 West Bromwich Building Society5830.80 mln GBP0.07%
49 Sainsbury's Bank plc5794.00 mln GBP0.07%
 

Credit Ratings (as of May 2018)

Fitch Moody's
- (not rated) Ba3 (non-investment grade speculative)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. West Bromwich Building Society is rated by Moody's.

Credit ratings assigned to West Bromwich Building Society as of May 2018 are shown in details in the following sections.

Moody's

Long-term rating for West Bromwich Building Society it is set to Ba3 (non-investment grade speculative). Long-term bank deposit rating is Ba3 (non-investment grade speculative). Baseline credit assessment is ba3. Short-term rating is not assigned.

Long-Term Rating  Ba3
Long-Term Bank Deposit Rating  Ba3
Baseline Credit Assessment  ba3
Short-Term Rating  -
Outlook  positive

Outlook for the ratings of West Bromwich Building Society is set to positive (may be raised).

Deposit Guarantee

Deposit Guarantee
Yes (up to 85 000 GBP per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in the United Kingdom are obliged to participate in the United Kingdom's deposit guarantee scheme.

In the case of West Bromwich Building Society failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  private individuals, small companies
Covered Currencies  all
Maximum Protected Amount  85 000 GBP
Paid In Currency  GBP

Further Information

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of West Bromwich Building Society is shown in the table below.

MFI ID  GB2790

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  651B

Domestic Presence

ATMs (2017)
Branches (2017)
37 

In 2017 West Bromwich Building Society had 3 ATMs in the United Kingdom. The value didn't change compared to the previous period (2016). The evolution of the number of ATMs of West Bromwich Building Society is shown at Chart 5 below.

ATMs of West Bromwich Building Society.

Chart 5. ATMs of West Bromwich Building Society.

In 2017 West Bromwich Building Society had 37 branches in the United Kingdom. The value didn't change compared to the previous period (2016). The evolution of the number of branches of West Bromwich Building Society is shown at Chart 6 below.

Branches of West Bromwich Building Society.

Chart 6. Branches of West Bromwich Building Society.