The Clydesdale and Yorkshire banking group, currently owned by National Australia Bank (NAB), is planning to invest in digital banking technology after being demerged later in 2015.
Clydesdale Bank said in its interim financial results statement: "This summer we will launch a new, innovative digital banking service marking a significant change in how customers can choose to bank with us. Drawing on extensive customer feedback, this exciting new approach to banking is currently being tested by customers."
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NAB plans to exit the UK retail banking sector and has decided on a demerger of around 70% of the business, which will be handed over to NAB shareholders in order to expedite the process.
The balance of the business will be floated in an IPO, with an exit date by end of 2015.
The newly listed bank, following the demerger, will operate with 294 branches across UK.
Clydesdale Bank acting CEO Debbie Crosbie said: "We will become a fully listed UK bank and a credible challenger and different from the others. We are a full service clearing bank and can do everything the big banks do.
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By GlobalDataThe banking group has appointed John Shovelin as operations and IT director, who will be in charge of the combined banks’ IT strategy, during 2014 in preparation for a demerger.
