NAB gets shot of CYBG (almost)

NAB will finally be rid of its blighted UK operations this week. We explain what’s happening and give our initial appraisal of CYBG.

In a tough category, NAB’s purchase of Clydesdale Bank back in 1987 might be the greatest of all diworsifications. No doubt it had bright hopes of applying its skills on the other side of the world to build a thriving bank to complement its operations at home – but in the cold dark streets of Scotland and Northern England, those hopes have long since turned to dust.

This week, almost three decades later and after much pain and anguish, NAB will finally be shot of it (almost). Here’s what you need to know.

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