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CYBG Plc Provides Update on Joint Venture

12 Feb 2019  |  19:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Joint Venture

CYBG Plc updated that Clydesdale Bank PLC, a wholly owned subsidiary of the Company, has entered into a JV with Salary Finance to add an innovative channel to the Company's personal lending business. As reported, Salary Finance is an innovative FinTech platform that connects to the payroll of participating employers to provide financial wellbeing benefits to employees, including salary-deducted savings, and loans, as well as financial education. The Company further updated that the JV is complementary to their existing product plans and will provide an incremental opportunity to develop their unsecured loan business within risk appetite.

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