Banks into FTSE 250

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Yorkshihre Bank and sister Clydesdale Bank have been promoted to the FTSE 250 index following the recent flotation of parent company CYBG.

CYBG’s shares were worth 180p when it floated in February, but have risen to over 270p after it reported strong lending.

Keith Loudon, senior partner at Leeds-based Redmayne-Bentley, said: “This is a key element in the project to build the Northern Powerhouse, of which one of the essential ingredients is having a successful bank within the region.

“Yorkshire Bank is a well-established name in the region and I am sure it will continue to build on its success.”