Yorkshire and Norwich & Peterborough
(N&P) Building Societies have confirmed that the Financial
Services Authority has given its approval to the proposed merger
between the societies.
The merger will complete on 1 November.
The merged Society will be known as
Yorkshire Building Society and will retain its position as the UK’s
second largest building society, behind the Nationwide.
The enlarged Society will have
approximately 3 million members and 224 branches.
Yorkshire will retain the The N&P
name as a separate and distinct brand within the Yorkshire, similar
to the Chelsea and Barnsley brands.
The proposed merger was announced in April this year.
Yorkshire announced plans to acquire the Egg brand and its £2.5bn savings book and £430m
mortgage portfolio from Citigroup.