The Nationwide Building Society is set to get bigger. The Cheshire and Derbyshire Building Societies are to merge with it which will strengthen their positions which have become come weak as a result of the current economic conditions. Interest rates associated with mortgages have not helped.

This is a purely business proposition and members of both building societies will be disappointed if they thought they may get a pay out: there won’t be one. This deal is designed so save both companies whose futures looked bleak without a merger.

As the credit crisis continues to deepen, more such mergers and takeovers must surely be on the cards in the future.