The Elite Ayrshire Business Circle

The Elite Ayrshire Business Circle

Tuesday, 20 November 2007

Clydesdale Bank powers ahead

THE Clydesdale Bank has posted an excellent set of financial results for the year ending 30 September 2007.

Net profit is up 16.3% at £379 million.

The volume of business lending has increased by 25.7% to £12.4 billion.

Encouragingly at a time of nervousness for the banking sector and the economy in general, provision for doubtful debts reduced 7.0% in the year. The bank says the shift to secured lending, stable asset quality, improved arrears management and tighter lending criteria offset lending volume growth.

Willie Mackie, managing partner at the Clydesdale Bank Financial Solutions Centre in Ayr (pictured above) told Ayrshire Scotland Business News: “It is great to see the continued success of the Bank, with business lending volumes up by 26%. Revenue from our Integrated Financial Solutions Centres was up by 24% year on year.

“I am delighted to report that our business in Ayrshire continues to expand
across all fronts. On the back of this expansion we will be looking to
further strengthen our Corporate and Commercial team - I expect to be
confirming new appointments within the very near future.”

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