Bradford and Bingley Taken Over

Bradford and Bingleys days as an independent bank are over.

The British government confirmed that it was nationalizing troubled bank Bradford and Bingley, as the global financial crisis claimed more victims in Europe.

Bradford & Bingley's Isle of Man retail deposit business along with its branch network has been transferred to Abbey National plc.

For savers and borrowers of B & B it will be business as usual. Customers should continue to use their normal branches to access their accounts.

The Manx Financial services division are welcoming the move as it will provide protection for depositors with B&B International Limited in the Isle of Man.