Delighted with deposits
Newcastle Building Society has been gradually building up its structured deposit business, including the launch of a new intermediary services arm in 2008. With the FTSE 100 index climbing and deposits backed by the government, the society is right to be bullish
Newcastle Building Society in the UK is one of very few financial institutions to benefit from the downturn. In August 2008, the society launched its intermediary services arm as a separate entity, creating Newcastle Intermediary Services to sell products to the retail market. Part of this offering includes structured deposits, which are covered by the Financial Services Compensation Scheme (FSCS) for up to £50,000 per investor. In the aftermath of the Lehman Brothers bankruptcy, being able to
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