Clydesdale Bank has today reported a 53% jump in first-half pre-tax profit as the Glasgow-based lender benefited from a one-off gain from capital restructuring last year and lower impairment losses on credit exposures. 

Clydesdale Bank is the UK retail and commercial banking business of National Australia Bank Ltd and is expected to go public in London this year.

It said it was seeing encouraging growth in current account switchers. 

"Our presence in and commitment to core regional markets amongst SMEs means that we are well placed to compete as demand for credit returns," chief executive Debbie Crosbie said in a statement today. 

AIB's chief executive David Duffy is due to take over the CEO position at Clydesdale later this year.

The bank said its pre-tax profit increased to £133m for the six months ended to the end of March, from £87m a year earlier. 

Clydesdale said net interest income for the period rose 1.7% to £390m, buoyed by higher income from home lending and deposit costs. 

The bank had a one-off gain of £39ms from the purchase of subordinated debt as part of a capital restructuring in December last year. 

Ms Crosbie told Reuters last week that an initial public offering of Clydesdale Bank was NAB's preferred option, but it may still consider an offer for the whole of the business. 

NAB said last week it would sell between 20-30% of its British business, which includes Clydesdale Bank and Yorkshire Bank, through an IPO in London this year. The rest of the shares will go to NAB shareholders.