N&P: Country folk lead Europe to IRB status

The first European bank to be cleared to use one of the new Basle Accord’s advanced approaches – and reap the rewards – is not headquartered in London, Paris, or Frankfurt. It doesn’t inhabit a gleaming tower in Milan or a grand old office block in Madrid. Strictly speaking, it’s not even a bank. Duncan Wood reports.

Following N&P’s lead

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HQ at the N&P: it won’t grow for the sake of growing, it’s choosy about the assets it acquires

THE NORWICH & PETERBOROUGH Building Society (N&P) is based in a business park on the outskirts of Peterborough, a little-remarked UK market town, and occupies two open-plan floors in a nondescript modern building. Its 55 branch offices are scattered across the flat, open farmland of East Anglia, in such towns and villages as Swaffham, Fakenham and Whittlesey.

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N&P: Country folk lead Europe to IRB status

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