Talking about Yorkshire and Clydesdale in a Q1 trading update today, its parent National Australia Bank has revealed: “The business is on track to deliver its two-year pledge to advance £10bn of gross new lending to businesses and mortgage customers by October 2011.”
And Lynne Peacock, UK chief executive, said: “Against a background of continued economic uncertainty, our UK business continues to demonstrate its resilience and our prudent strategic direction is unchanged.
“Clydesdale and Yorkshire Banks remain fully committed to supporting new and existing business and personal customers. We are firmly on course to deliver our two-year pledge to advance £10 billion of gross new lending to businesses and mortgage customers by October this year.”
In the three months to December 31, NAB says it made cash earnings of A$1.3 billion (£817m), an 18% on the same period a year earlier.