Clydesdale rocked by PPI

This is going to hurt, said one analyst yesterday, referring to the damage done to Clydesdale and Yorkshire banks’ CET1 capital ratios and first-half earnings by an extra £350 million for payment protection insurance mis-selling taken by their owner CYBG and previous parent, NAB. On the wider canvas, the struggle that the banking industry has had with PPI has been truly Sisyphean.