Clydesdale and Yorkshire Bank Group report ‘solid’ third quarter

Clydesdale and Yorkshire Bank Group (CYBG) reports third quarter trading was “solid” and in line with expectations with full-year operating costs now expected to come in below previous guidance.

The Glasgow-based bank said it continues to deliver on its strategic objectives in what it describes as the “uncertain” economic and political environment.

CYBG said it expects underlying expenses for the full year will now be below £680 million after its Clydesdale Bank subsidiary reached as agreement to close its defined benefit pension scheme to future accruals.