Invertext Online Technical Dictionary

building society

noun  

sociedad de crédito hipotecario

Definition 1

Companies set up for the sole purpose of granting home loans, funded by the returns on fixed-interest investments.

Source: Invertext from various sources


Context: Executives of both building societies and smaller banks are warning that the Treasury will cramp their growth by including them in its new “bank surcharge”.

Source: Financial Times 19/08/2015 (Jim Pickard and Emma Dunkley)

Appears in the following subjects

Banking