Abbey National Bank

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Abbey National

Founded in 1944, the Abbey National used to be a building society, and its main business was mortgages. In 1989 the company converted to a plc.; and in the following decade the conversion to a complete banking model was completed, which included a 1996 merger with the National and Provincial.

The Abbey National bank is now Britain's sixth largest (and the world's 30th) bank, with over 28,000 staff.

The Abbey National bank has become known for innovations not only in technology (being one of the first to adopt digital TV and WAP distribution channels) but also through retail partners like Costa and Safeway, sharpening up the customer experience - you're as likely to get a coffee and a loan from newer Abbey branches.

The bank is took a new direction in 2003 - by announcing the disposal of its First National Bank subsidiary (sold to GE), and aims simply to be the UK's largest provider of personal financial services.

Other big names within the Abbey National group are Scottish Mutual (life assurance) and the Cater Allen private banking operation.

Article sourced from bank.org.uk