Dunfermline savers to be protected

Mar 28 2009

Scotland's biggest building society is on the point of break-up after racking up millions of pounds in losses.

Scottish Secretary Jim Murphy announced that the Government was stepping in to protect depositors in the Dunfermline Building Society, ahead of the expected announcement next week of losses of £26 million.

He confirmed that the Government was considering separating out the society's so-called "toxic" assets, while selling on the profitable parts of the organisation to other financial institutions.