Bad debts at Clydesdale and Yorkshire banks have fallen by almost a third, according to reports.
National Australia Bank (NAB), which owns the two UK banking institutions, said the amount of bad debts written off by the banks in the six months to March 31 was down by 28 per cent from the previous six months.
NAB revealed that profits at its UK operations rose by 11 per cent to £264m over the same half-year period, but added that it would continue to take a cautious approach to UK trading.
Lynne Peacock, chief executive of NAB UK, said: "While there are now consistent signs of economic recovery, our cautious approach will remain until longer term trends are evident."
"Our clear focus remains on maintaining our strong capital position and supporting customers."
NAB has a UK customer base of around 2.7 million through Glasgow-based Clydesdale Bank, which incorporates the Yorkshire Bank brand.
More than 8,200 full-time workers are employed at the bank’s 340 UK branches (188 Yorkshire Bank and 152 Clydesdale bank sites).
Bad Debts Improve At Clydesdale And Yorkshire Banks
Thu, 06 May 2010
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