Mergers favour banks

August 17, 2007

Mergers between banks and building societies help the financial institutions involved but not their customers, a study by the Centre for Competition Policy at the University of East Anglia has found.

Mergers produced efficiencies for most participating institutions but interest rates for most customers remained unchanged, John Ashton and Khac Pham said after examining 61 UK bank mergers that took place between 1988 and 2004.

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