CLYDESDALE Bank, the owner of Yorkshire Bank, will re-register as an English company in the event of a Yes vote in the Scottish referendum, it confirmed today.
It is believed that the Australian-owned lender would almost certainly be based in Leeds, home of Yorkshire Bank.
A statement from National Australia Bank Group said the move is part of its contigency plans and is designed to provide increased certainty for customers during the independence negotiations and beyond.
David Thorburn, chief executive, said: “We have strong roots in Scotland and we remain fully committed to our customers, staff and the communities in which we operate.
“Any change to the company’s legal structure would have no impact on the vast majority of the bank’s staff.
“Clydesdale Bank would continue to serve its customers just as it has since 1838 and Glasgow will
continue to be the Bank’s key operational centre.”
Re-registration in England would be subject to a number of regulatory approvals and other requirements, the timing and cost of which would be determined in due course, said NAB.