Government bailing out banks branch refits

[Gogivit]

Out in town this morning I couldn't help but notice that several more of the banks in my town have spent what must be considerable amounts of money on enhancing both their interiors and exteriors. With my own bank publicly admitting to a £500k refit and then seeing these others, makes me wonder if the credit crunch really exists!

[indebtstudent]

I can see your thinking but you must understand the amount spend on refurbs which may not seem trifling to us are to the banks. Not because of the money they make but because in order to make that money they deal in BILLIONS.

I can't recall where I say it but I remember seeing something saying that BOE putting 5 billion into the system is like someone putting £5 into the local economy.

Hope this puts things in perspective.

[mailmannz]

Im not trying to be funny here BUT stuff like this is often planned 6, 12 or years in advance and budgeted for accordingly.

Just because branches are being refurbished (and often to enhance security) doesnt mean they are taking the p1ss out of the charges they have extorted from your account.

Mailman

[Bigmac versus]

Originally Posted by mailmannz

Just because branches are being refurbished (and often to enhance security) doesnt mean they are taking the p1ss out of the charges they have extorted from your account.

Mailman

Think you are failing to see what gogivit is actually saying, hes referring to the credit crunch and that if the banks were feeling the pinch why would they continue to upgrade branches, where security is required to be improved then yes but i have seen many branches being upgraded, my local CB has also been extensively refurbished and it wouldnt be cheap, there was seriously nothing wrong with what was there before. You would think that whilst the financial market is in the situation it is they would curb their spending, wouldnt you?

[mailmannz]

As I said, these were most likely in the banks branch road map, and budgeted accordingly. And just like anyone else, these costs would have been prioritised against other spending within the bank with the branch upgrades still being deemed a priority.

Mailman

[mailmannz]

OR...maybe they just spent all that money to get on your t1ts?

Mailman

[Bigmac versus]

Who knows, really dont care how they spend their money as long as it aint mine there spending.

[humbleman]

Originally Posted by mailmannz

As I said, these were most likely in the banks branch road map, and budgeted accordingly. And just like anyone else, these costs would have been prioritised against other spending within the bank with the branch upgrades still being deemed a priority.

Mailman

my car is coming to the end of the lease, when I had this four years ago the plan was to have another new one this summer, cos my mortgage gone up, I cant afford it so I am going to leave without a new car or shall I just get some monies from the government and buy one.

You forecast ahead and change as conditions dictate.

[Bigmac versus]

Originally Posted by humbleman

You forecast ahead and change as conditions dictate.

Exactly and if the banks have been frivolous with their money then cry for emergency funding why wouldnt that surprise me.

[indebtstudent]

I SERIOUSLY doubt stopping refurbs would make any kind of dent in the credit crunch. The problem is that orgnisations cannot raise funds at competitive rates. They use economies of scale make money, in other words you have to elend LOTS and LOTS of money to make a lot of profit.