Tough times are an opportunity, says Clydesdale chief

Tuesday 22nd June 2010, 2:30PM BST.

Clydesdale Bank chief executive Lynne Peacock and chief operating officer David Thorburn. (Picture by Tom Tardif, 0985788)

CONSOLIDATION in the island’s banking industry presents opportunities for further growth at Clydesdale Bank International, according to Lynne Peacock.

The Clydesdale Bank chief executive was in the island last week to see for herself how the organisation’s local branch was performing.

She said CBI, which opened for business in April last year, was ahead of target and making a valuable contribution to the overall Clydesdale operation.

In March, the Guernsey-based operation saw total deposits pass the £1.5bn landmark.

But she believed there was more to come as a result of recent bank closures, such as the announcement that Northern Rock (Guernsey) would be closing in September.