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Sunday, 20 April 2014

Clydesdale and Yorkshire banks to axe 1,400 jobs

Clydesdale and Yorkshire banks are to axe 1,400 jobs

Clydesdale has branches in Carlisle and Workington and Yorkshire has a branch in Kendal.

Owner National Australia Banks says it is taking the action because of deteriorating commercial property loans and an increase in the cost of funding after Clydesdale's credit rating was downgraded.

Among the measure it will be taking is the closure of 29 of the banks' 73 Financial Solution Centres, which offer services to businesses and better-off individual investors. It has one situated in Kingstown, Carlisle.

Nine others will merge with branches.But NAB said the changes would mainly affect operations in the south of England as it looks to focus on consumer and small business lending in Scotland and the north of England



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