Clydesdale Bank today posted a 2.5% rise in first-half net interest income, helped by growth in mortgage lending and lower term deposit and wholesale funding costs.
The Glasgow-based lender made its London debut in February.
It today reported a net interest income of £400m for the six months ended March 31, from £390m a year earlier.
Customer lending grew 2.8% while deposits were up 4.6%.
The company, whose brands include Clydesdale Bank and YorkshireBank, said it expects loan-to-deposit ratio to remain under 115% and its Common Equity Tier 1 to be in the range of 12-13%. The bank today reported a CET1 ratio of 13.2%.
Clydesale, which was valued at about £1.62 billion in its London debut, said underlying cost-to-income ratio fell to 72% in the six month period, from 71% a year earlier.
New business lending to SMEs rose 10% to £1.03 billion.
