Adding one bank to another to make an even bigger lender might sound like a good idea, but it is easier said than done. More to the point, perhaps, any such deal is all about potential, about what to expect in future — and it was the future, in all its uncertainty and unpredictability, that weighed so heavily on CYBG yesterday.
The Glasgow-based banking group announced an annual loss for the year to September 30 yesterday, yet arguably it was the words of David Duffy, chief executive, that did as much to send its shares into a near-17 per cent tailspin. Echoing analysts’ concerns about the effect of a no-deal Brexit on CYBG’s core mortgage lending and small and medium-sized business customers, Mr Duffy talked