Clydesdale owner backs turnaround

Press Association
Clydesdale Bank
Clydesdale Bank

Clydesdale and Yorkshire banks have returned to profit for the half year as an overhaul by parent group National Australia Bank boosted their balance sheets.

The lenders swung out of the red with combined pre-tax profits of £54 million in the six months to March 31 against losses of £38 million a year earlier after bad debt charges slid by £191 million to £92 million.