FSA confirms Yorkshire/N&P merger


The FSA today confirmed the merger between the Yorkshire Building Society and its smaller rival Norwich & Peterborough(N&P) which will complete on 1 November.

The merger was announced on 20 April, and approved by 88% of N&P members on 22 August. The merged Society will be known as Yorkshire Building Society, which will retain its position as the UK's second largest building society - with around three million members and 224 branches. Yorkshire said it will continue to focus on the ‘traditional' building society business of residential mortgages and savings, and will be principally retail funded. The N&P name will be retained as a separate and distinct brand within Yorkshire, similar to the Chelsea and Barnsley brands.

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