Belfast Telegraph

Banks get boost from parent firm

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.

Belfast Telegraph