Bank cuts mean relocation of Bradford business banking centre (From Bradford Telegraph and Argus)

Bank cuts mean relocation of Bradford business banking centre

10:15am Monday 30th April 2012 in Business By Chris Holland, Business Reporter

Cuts at Australian-owned Yorkshire and Clydesdale banks will include relocating a key business banking centre in Bradford.

Yorkshire Bank's West Yorkshire Financial Solutions Centre on Canal Road is to be relocated to the Broadway city centre branch. The FSC, which covers Bradford, Craven, Kirklees and Calderdale offers a 'one stop shop' for corporate banking, private wealth management, treasury services and credit and employs more than 40 staff.

The move is part of cuts at the two UK divisions of National Australia Bank which will see around 300 jobs axed in Yorkshire out of a total 1,400 UK job losses by September 2015.

The cuts follow a strategic review of the UK business by NAB and include the closure of 29 Financial Solutions centres, mainly in the South of England.

NAB blamed deteriorating economic and operating conditions, particularly in the commercial property market , for its decision.

David Thorburn, Yorkshire and Clydesale chief executive, said: “Simplifying our business model and focusing on our strengths in Scotland and the North of England are key to ensuring that Clydesdale and Yorkshire Banks deliver improved returns.

“It is clear that we must adapt to the exceptionally challenging economic environment we are operating in. We have had to take some difficult decisions but they are the right decisions for our business."