Prudence has paid off, says new bank official

Martin Ibbetson, who led the bank's North Yorkshire Financial Solutions Centre (FSC) in York for two years, said the bank's cautious attitude has enabled it to keep lending during the last two years and strengthened the organisation.

He said: "I firmly believe that the financial difficulties of the last two years mean that Yorkshire Bank's time has come and both business and private banking customers recognise the benefits our

prudent, cautious approach based on traditional relationship banking.

"This has enabled us to keep lending during the last two years when most others have not and means that we are stronger and have a tremendous amount to offer as the UK starts the long, slow recovery and I am delighted to be playing a bigger role in this by supporting our magnificent teams on the ground."

Mr Ibbetson's appointment comes amid reports that Yorkshire Bank's parent company National Australia Bank is sounding out advisers over a possible bid for nationalised Northern Rock. It is understood that the company has held a "beauty parade" of potential investment banking advisers to assist it in an auction of the Newcastle-based lender.

In his new role, Mr Ibbetson, 52, will work alongside regional director Richard Norrington, whose appointment was announced in November.

The two will cover Yorkshire and Clydesdale Banks' east region, which stretches from Newcastle to Norwich.

They will oversee the eight integrated financial solutions (iFS) centres in Yorkshire and the North East and five Clydesdale Bank centres in the south of the region.

Mr Ibbetson joined Yorkshire Bank from Leeds University in 1979 and worked his way up through roles in Barnsley, Leeds, Blackburn, Hanley,

Darlington, Bradford, and Sheffield where he managed the South Yorkshire FSC for seven years.

During his time at York, he spearheaded the move to link York FSC with the business and private banking team in Harrogate to create North Yorkshire FSC which has 40 staff and covers the whole of York and North Yorkshire, except the Craven district.

Mr Norrington said: "This is a great appointment for Yorkshire Bank's strong East region. Martin has a superb track record based on 30 years' experience with Yorkshire Bank and I am sure that the teams

in our financial solutions centres will benefit tremendously from his energy and guidance."

Yorkshire Bank recently announced a further 10bn will be issued as loans during the next two years to support the economic recovery, including 2bn in Yorkshire.