Yorkshire Bank’s restructure to see it retreat from South
NO formal bids were made for Yorkshire and Clydesdale banks, their owner National Australia Bank has revealed.
NAB chief executive Cameron Clyne (main picture) told investors while it received “informal and speculative expressions of interests”, all of these were “very low valuations and also highly conditional and... very difficult to execute”. New banking outfit NBNK had been linked with a potential buyout of the brands, but has now turned its attention to 632 branches being sold by Lloyds.
Mr Clyne said: “Let me be quite clear, we’ve never received a formal offer for this bank. So it’s not as if we’ve been walking past deals in the last three and a half years.”