BSA calls for level playing field in banking

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BSA calls for level playing field in banking

Fri 7th May 2010

The Building Societies Association (BSA) has urged the government not to give any financial institutions an unfair advantage in the banking sector.

Adrian Coles, director-general of the industry body, highlighted three issues in which such companies should be on a level playing field - funding, liquidity and capital.

In his view, the banks that received direct taxpayer support over the past couple of years should not be in a position where they have an unjust advantage over mutuals that are trying to compete with them.

Mr Coles remarked: "Mutuals bring democracy, competition, diversity, customer focus and a risk averse culture to the market. There's never been a better time for these mutual values to challenge the plc banks."

He made his comments after the BSA announced that 58 per cent of mutual chief executives say they are optimistic about the upcoming year.

The organisation made a new appointment this week, with chief executive of the Hanley Economic Building Society David Webster becoming the chairman of the BSA for the 2010/11 year.

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