National Australia Bank grants CYBG a £1.7bn indemnity against any further compensation for PPI or mis-selling of interest rate swapsClydesdale and Yorkshire banks are to be floated on the stock market next year in a hump that could pave the wave for consolidation in the industry.
The flotation of the banks – under the banner CYBG – is taking place two months later than expected by their current owner,National Australia Bank, which has spent years seeking a solution to its troublesome UK operations. The unusual bank, or which employs 8000 people in the UK,is expected to have a place in the FTSE 250 index. Related: Clydesdale and Yorkshire banks to be floated by Australia’s NAB Continue reading...
Source: theguardian.com