CYBG lends Yorkshire SMEs £380m in 2018

CYBG, owner of Clydesdale and Yorkshire Bank, provided Yorkshire SMEs with £380m of funding in 2018.

The bank beat its lending target of £300m for the region by 27%, taking its two-year lending total to £685m against a target of £600m.

Overall, CYBG provided more than £2bn in lending support to SMEs across the UK. This takes total lending to £4.05bn in the first two years of its three-year commitment to help SME growth by lending small firms £6bn, putting it on track to meet the target by the end of 2019.

The bank lent money to around 7,000 SME businesses in total, with over 90% of SME lending focused on regions outside of London.

Gavin Opperman, group customer banking director at CYBG, said: “I’m delighted we have exceeded the first two years of our commitment to lend SMEs £6bn across the UK over three years, with a further £2bn provided in 2018.

“As the UK’s leading SME challenger bank and a regional economic champion, I’m especially pleased we have surpassed our regional commitments in the Midlands, North of England and Scotland over 2017 and 2018. CYBG will continue to support the innovation, creativity and growth plans of the nation’s small and medium sized enterprises.”