The Press and Journal (Inverness, Highlands, and Islands)
Lending level shows strength
CYBG chief operating officer Debbie Crosbie hailed the results as a “good, strong performance”.
The group’s near £400million increased lending commitment to small and medium-sized businesses during the year was a “really strong message of support” for the sector, she said.
“Conduct” issues such as payment protection insurance mis-selling were no longer a major concern, thanks to the hundreds of millions of pounds-worth of provisions that were set aside during the year to September 30, she said.
Former owner National Austalia Bank picks up the tab for about 90% of these costs, leaving CYB less exposed. “PPI has probably got some way to run” Ms Crosbie said, adding: “We will be keeping a watchful eye on it.”
She expects the pace of PPI claims against the sector to start tailing off before a possible last-minute rush before the 2019 deadline.
CYBG posted record levels of new mortgage business, seeing market share grow from 1.67% to 1.73%.
It also reported “modest” growth of £9million in unsecured personal lending, a market Ms Crosbie said was rife with “crazy pricing”. She added: “That is not something we will participate in.”