... subsidiary) 450,000 First National 5,000,000 Key Financial Statistics Assets for the year-end 2001 £214,906 million Profit (pre-tax) for the year-end 2001 £1,938 million Dividend per share for the year-end 2001 50 pence The External Environment The banking industry is growing. Building societies currently account for about 20% of all outstanding residential mortgages in the United Kingdom and about 18% of all personal sector deposits held by building societies, banks and National Savings. A number of societies also offer related products such as offshore deposit accounts, cheque accounts, credit cards, stock broking services and estate agency; most also sell a range of insurance products. One society owns its own life insurance subsidiary, but most of the remainder sell or arrange the provision of products 'manufactured' by life insurers, acting as independent financial advisers, tied agents or introducers under the polarization provisions introduced under the Financial Services Act 1986. Societies also typically sell house and contents ...

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