THE owner of Yorkshire and Clydesdale banks reported a 4% rise in annual profits – and underlined its support for small and medium-sized businesses.

National Australia Bank Group said its UK operations posted underlying profits of £533m for the year to September 30 while pre-tax cash earnings soared by 45% to £237m.

The Yorkshire and Clydesdale banks provided £7.5bn of new business and mortgage lending during the period – taking total new lending to £12.2bn in the past two years and well ahead of its pledge made in October, 2009, to lend £10bn in two years.