Nationwide to receive £1.6bn for Dunfermline assets

Nationwide Building Society on Monday said it expected to receive about £1.6bn of cash from the British government as part of a deal to take over the healthiest parts of Dunfermline Building Society, its stricken rival.

In a deal engineered by the Bank of England and the Treasury over the weekend and announced on Monday, Nationwide has taken on about 300,000 savings accounts held by Dunfermline customers. The accounts hold £2.4bn of deposits.