CYBG in discussions to acquire speciality lender Kensington - report

Challenger bank CYBG was in talks to buy speciality lender Kensington, according to a report on Monday.

CYBG, a new amalgamation of the former Clydesdale and Yorkshire banks that floated in London last year, was looking to acquire Kensington from owners Blackstone and TPG, The Times reported, three years after the private equity firms bought it for £180m from South African financial group Investec.

CYBG had previously been vocal of its intention to snap up new business after it was spun off from the National Australia Bank in February 2016.

Both CYBG and Blackstone had made no comment as of Monday morning.