Due To High Bills and PPI Repayments, Clydesdale Is in Floatation

May 8, 2015
by admin in PPI News

The National Australia Bank announced that Clydesdale Bank will be floated in the stock market and will have 70-80 per cent of its own shares transferred from demerging with the bank.

Clydesdale Bank, once broken up from the NAB, will give current NAB shareholders a chance to find public investors in the London Stock Exchange. The demerging is expected to happened by the end of the year.

NAB said it was a complex and substantial undertaking and it could address a great number of issues.

Clydesdale Bank received £2.7 billion worth of fines from the regulator due to several employees editing PPI information before sending it to the Financial Ombudsman service. It has also repaid around £420 million this year, surpassing its £75m forecast the previous year.