2:29pm Monday 17th November 2008
Bradford and Bingley chiefs are due to be grilled by MPs tomorrow over the current banking crisis.
Chief executive Richard Pym, along with chairman Rod Kent, who stood down last week, will appear before the Commons Treasury Select Committee tomorrow morning.
It was announced late last week that Mr Kent’s deputy, Nick Cosh, and non-executive directors Ian Cheshire and Steve Webster had left the company.
The Commons Treasury Committee is currently conducting an inquiry into the Banking Crisis: Nationalised Banks. Last month after more than 150 years as a building society and then a bank, the Government took £50 billion, including £41 billion in mortgage loans, onto the public balance sheet.
While B&B’s mortgages are in public ownership, its savings business and branches have been sold to Spain’s Santander for £612 million.
Northern Rock bosses will also give evidence.
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