Northern Rock security

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bobo

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Is my money safe with NR? Do they only have an internet presence or do they have walk in offices??
 
Only internet and a [broken link removed]. But that doesn't necessarily make them any less secure.
 
bobo said:
Is my money safe with NR? Do they only have an internet presence or do they have walk in offices??
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Northern Rock and RaboBank are larger than AIB or Bank of Ireland...it's gas people still have this idea that they're small and in some way dodgy when in fact they're massive institutions with bricks and mortar operations in their own jurisdictions.
 
KalEl said:
Northern Rock and RaboBank are larger than AIB or Bank of Ireland...it's gas people still have this idea that they're small and in some way dodgy when in fact they're massive institutions with bricks and mortar operations in their own jurisdictions.
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Didn't know this. Was just wondering what the likelihood of them going bust is.
 
Pretty slim and arguably slimmer than some of the other more established players (for whom the likelyhood is slim enough too).
 
Pedantic I know but going by todays' values Northern Rock(5.16 billion pounds) isn't as big as Bank of Ireland (18 Billion euro) or AIB(20B), or even Anglo Irish (11.8B), in terms of market capitalization anyway.

Still big enough I'd not be worried about placing savings with them.
 
Size isn't everything - ENRON had a market capitalisation of over $60 bn once!
 
Exactly-when looking at where to bank-if you are worried about them going bust-you should look at things like solvency and liquidity-not the size of the balance sheet or the market capitalisation.
 
The Rabobank Group has the highest credit rating (AAA), awarded by the well-known international rating agencies Moody's and Standard & Poor's. In terms of Tier 1 capital, the organisation ranks among the world's fifteen largest financial institutions.

You can view key financial figures from the Interim 2006 Report here [broken link removed]

In 2006 Rabobank was voted the Safest Privately Owned Bank in the World and the bank was voted the Third Safest Bank in World by Global Finance Magazine. Privately owned because Rabobank is a cooperative bank and is not listed on a stock exchange.

Regards,
RaboDirect
 
I know both NR and Rabo are big in their home jurisdictions. My niggling concern (and I admit I haven't researched it) is what exactly is the relationship between the Irish company and the parent.

Could the Irish subsidiary go bust and the parent refuse to meet any obligations that the Irish subsidiary had?

For example in Multinational companies, a parent often shuts down a loss making subsidiary and seems to be able to walk away from many of the obligations of the subisdiary (e.g. redundancy, contracts third parties had with the subsidiary etc).
 
Persius said:
I know both NR and Rabo are big in their home jurisdictions. My niggling concern (and I admit I haven't researched it) is what exactly is the relationship between the Irish company and the parent.

Could the Irish subsidiary go bust and the parent refuse to meet any obligations that the Irish subsidiary had?
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Speaking only on behalf of RaboDirect, we are part of the Rabobank International Dublin Branch based in the IFSC in Dublin and have full AAA credit rating status. RaboDirect is not a subsidiary but directly part of the branch. Please refer to RaboDirect post above and website link provided for further information about the Rabobank Group.

Regards,
RaboDirect
 
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