Here’s another Scottish bank heading south of the border in the event of a vote for independence in a week’s time.
National Australia Bank has confirmed its contingency planning for its Clydesdale Bank subsidiary includes seeking registration as an English company in the event of a ‘Yes’ vote, reports FTAdviser sister title FastFT.
It said: “Re-registration would address some of the uncertainties and risks surrounding terms of separation if Scotland were to become an independent country.”
NAB chief executive Andrew Thorburn added: “This contingency plan gives our Clydesdale and Yorkshire Bank customers increased certainty about the ongoing success and stability of the bank.”
NAB’s statement follows that of Royal Bank of Scotland earlier this morning. It said it would re-domicile in England in the event of independence after being based in Scotland since 1727.
Lloyds Banking Group and Standard Life also said this week they would re-domicile if there is a Yes vote next Thursday.
