London, 9 November 2007: National Australia Bank Group, owner of the Clydesdale and Yorkshire Banks, today released full year results for its UK Region Operations, for the 12 months to 30 September 2007.
2007 Highlights: Comparison with 12 months to 30 September 2006
Profits
Volume growth
Performance
Lynne Peacock, Chief Executive, said:
"These results demonstrate our UK business is continuing to deliver strong and sustainable growth during turbulent market conditions."
"In addition to a good retail performance, business banking through our integrated Financial Solutions Centres continues to power ahead with income, lending and deposits all up by more than 20% year-on-year demonstrating that we’ve really brought the strategy to life. This growth has been supported by a conservative approach to risk, liquidity and funding."
“As well as strong volume growth, our business achieved a number of key milestones in the year including the convergence of the Yorkshire and Clydesdale back-office systems, the roll out of a new branch teller system and our inaugural mortgage securitisation of £3 billion.”
* includes fair value and ineffective hedging income
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