The Yorkshire Post says: Bank on Yorkshire. More questions than answers over £1.7bn deal

AS ONLINE banking becomes more prevalent, the merger of CYBG and Virgin Money appears to be underpinned by a certain commercial logic.
CYBG chief executive David Duffy.CYBG chief executive David Duffy.
CYBG chief executive David Duffy.

However this is little consolation to those staff at Yorkshire Bank, and elsewhere, whose jobs are at risk as a result of this proposed £1.7bn deal – or those customers who still prefer to do their banking in person at a local branch.

Yet, while many will be reassured that CYBG’s chief executive David Duffy is remaining in post, even he is uncertain about how the deal – still subject to shareholder approval – will play out or if the Yorkshire Bank brand will vanish from the high street. Time will tell in an announcement that poses more questions than answers. However those concerned should remember that Yorkshire Bank, established on May 1, 1859, owes much of its financial success, and its appeal to Virgin Money, to the longevity of its roots in this county and the loyalty built up over the generations. This should not be ignored.