Building societies are great survivors, they have grown and evolved over time to become and remain as major retail financial institutions, providing strong competition to banks. However, they still face issues i.e. enhanced regulation such as higher capital requirements. Despite this, societies have retained their key characteristics, as institutions that specialise in retail savings and mortgage markets.
Key learning objectives:
What is the role of building societies today?
What are the current challenges that building societies face?
How has building societies developed across the world?