Yorkshire Bank sees strong growth

Yorkshire Bank’s parent company reported a 25 per cent jump in half year profits despite subdued demand for credit.

National Australia Bank, which also owns Clydesdale Bank, said it is attracting growing numbers of small and medium sized businesses while also further expanding its mortgage book.

Pre-tax profits rose from £81m to £101m during the six months to March 31.

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Lynne Peacock, the outgoing chief executive, said: “The effectiveness of our support for customers and the sensible, consistent strategic direction we have maintained is clearly demonstrated in these creditable results.

“Pre-tax cash earnings are up 25 per cent in the past six months continuing the substantial recovery in profitability achieved

last year.

“Maintaining our sound capital position and balancing profit with increased security, a key focus has been to support our customers and this has been central to our success in these uncertain economic times.”