Clydesdale Bank hits mortgage balance record

Clydesdale: 19 billion pound milestone. Picture: Robert Perry
Clydesdale: 19 billion pound milestone. Picture: Robert Perry
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RESIDENTIAL mortgage lending balances at Clydesdale and Yorkshire Banks have passed the £19 billion milestone for the first time, the UK arm of National Australia Bank said yesterday.

David Thorburn, NAB UK’s departing chief executive, in his last reported trading quarter before he leaves on 28 February, said that in the three months to end-December the group saw “encouraging growth” against a competitive pricing backdrop.

This included 5.25 million customer log-ons for Clydesdale and Yorkshire mobile banking in December – a 29 per cent rise on the previous month. Clydesdale banknotes in circulation set a new record in that month, rising above £2bn for the first time in the bank’s history. Almost half of all notes in circulation in Scotland are now issued by Clydesdale.

New branches opened in Aberdeen and Sheffield in the period. Thorburn said NAB UK’s chief executive-designate David Duffy, formerly boss of Allied Irish Banks, would join “within the next few months”.

He said that to provide continuity the bank’s chief operating officer, Debbie Crosbie, would become acting chief executive from 16 February.