Banks get boost from parent firm
Published 10/05/2013 | 04:20
Clydesdale and Yorkshire banks returned to profit for the half year as an overhaul by parent group National Australia Bank boosted their balance sheets.
The lenders had combined pre-tax profits of £54m in the six months to March 31 against losses of £38m a year earlier after bad debt charges slid by £191m to £92m.
The turnaround followed the transfer of a £5.6bn commercial real estate loan book to National Australia Bank last October.