THE departing chief executive of Yorkshire Bank has said “good progress” has been made in moving the business forward in the first quarter of its financial year.
Its owner, National Australia Bank said its UK banking business, which also includes Clydesdale Bank, is in good shape and well positioned for sustainable future growth.
Yorkshire Bank chief executive David Thorburn said: “Further significant steps were taken in the quarter to increase our support for customers, delivering a wide range of product and service improvements from current accounts and mortgages through to mobile and internet banking. More improvements are in train as part of our clear aim to build a better bank for customers. “
Residential mortgage lending balances broke through £19bn for the first time with growth again ahead of the industry average.
Mr Thorburn is to leave the role at the end of this month to allow new leadership ahead of a proposed flotation after saying that a five-year commitment was required as its parent National Australia Bank (NAB) looks to exit the UK market.
NAB has previously confirmed it was preparing a £2bn-plus flotation of Yorkshire and Clydesdale banks.
Last month it was announced that the former CEO of Allied Irish Banks (AIB), David Duffy, will take the helm.
Mr Thorburn added: “Following my decision to step down as CEO, we’ve been working to ensure a smooth transition in leadership ahead of the new CEO, David Duffy, arriving within the next few months. My last day with the business will be February 28. To provide continuity and clear leadership between then and David Duffy’s arrival, our chief operating officer, Debbie Crosbie, will become acting CEO with effect from February 16.”
Meanwhile, steps taken by NAB to distance itself from its UK business helped it boost first-quarter earnings.
The bank said net profit rose to about $1.8bn in the three months to December.
_622.jpg)
