Edinburgh 0131 200 1200
Aberdeen 01224 49 80 80

News + Events

Latest news from Balfour+Manson

Clydesdale Bank

There has been a considerable amount of coverage in today’s press regarding the evidence given by David Thorburn, the Chief Executive of Clydesdale Bank, to the Treasury Select Committee (“TSC”).  Mr Thorburn faced lengthy questions over the sale by Clydesdale Bank/Yorkshire Bank of “Tailored Business Loans”. This questioning was part of the TSC’s enquiry into lending to small and medium enterprises. 
Mr Thorburn expressed regret in connection with a number of TBLs. He accepted that it was a mistake to sell the most complex loans to SME customers.
Balfour+Manson are advising a number of SME customers of Clydesdale Bank/Yorkshire Bank in connection with Tailored Business Loans. Clydesdale Bank has confirmed that they are looking into around 550 cases which have not been included in the separate miss-selling review currently being conducted by the Financial Conduct Authority. Since disputes first arose in connection with these TBLs in 2012, Clydesdale Bank have steadfastly stuck to their position that their TBLs are not “regulated products”. 
If you require any further information in connection with Clydesdale Bank Tailored Business Loans, please contact Gordon Deane at gordon.deane@balfour-manson.co.uk