NatWest pounds 347m finance sale
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ABBEY NATIONAL yesterday bought three consumer finance business from National Westminster Bank for pounds 347m, in its first major deal since Ian Harley succeeded Peter Birch as chief executive at the start of the year. The three businesses are Lombard Motor Finance, which is active in the retail motor trade, Lombard Tricity, which supplies hire purchase for retail chains, and Lombard Business Equipment Leasing.
NatWest said it had decided for strategic reasons to get out of these businesses, which operate through intermediaries, to concentrate on operations where it has a direct relationship with customers.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments