The West Bromwich Building Society has slashed its losses by more than half over the past year, as it cut more than 200 jobs and launched a “back to basics” strategy after narrowly avoiding being broken up.

West Bromwich Building Society bosses today revealed they are launching a major review of its branches as they announced a loss of £8.4 million.

Investors who face losing thousands of pounds from the deal to rescue West Bromwich Building Society have formed an action group to fight the changes.

West Bromwich Building Society is considering moving its headquarters out of the Black Country and into Birmingham city centre, it was revealed today.

West Bromwich Building Society is set for a re-launch with plans to add the name Birmingham to its title.

Members of West Bromwich Building Society were expected to vent their anger at directors and senior executives its near collapse at its annual general meeting in the Black Country today.

The boss who led West Bromwich Building Society to huge losses walked away with more than £680,000 for just seven months work – it has been revealed.

West Bromwich Building Society has unveiled plans to open new branches and create more jobs across the region just days after escaping financial collapse.

West Bromwich Building Society was today dramatically rescued in an 11th hour £182.5 million finance deal that saves it from a potential break-up.

West Bromwich Building Society will have to be rescued because of a financial crisis, it emerged this afternoon.