The West Bromwich Building Society recently issued their accounts for their financial year ending in March 2014. They actually managed to make a small profit after years of losses. Does that mean that the PIBS holders will start to receive their dividends again? In essence no. According to Peter Morgan who led a campaign on the issue, it might yet be another 5 years before these bondholders receive any interest whatsoever.
To remind readers about this problem, in 2009, the Society ran ...