SHARES in Clydesdale Bank owner CYBG plunged nearly 17 per cent after the institution warned over Brexit and made additional provision for payment protection insurance (PPI) mis-selling, wiping £600 million from its stock market worth.

CYBG chief executive David Duffy branded the £150m provision, which took to £352m the total set aside for PPI by the bank for the year ended September 30, as “disappointing”. It led the bank to report a loss of £164m, compared with a profit of £268m last year.

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2018-11-27T15:49:07+00:00 November 27th, 2018|

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