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BRIEF-CYBG Plc says FY ‍underlying pretax profit up 33 pct to 293 mln pounds​
November 21, 2017 / 7:31 AM / in 25 days

BRIEF-CYBG Plc says FY ‍underlying pretax profit up 33 pct to 293 mln pounds​

Nov 21 (Reuters) - CYBG PLC:

* ‍FY18 GUIDANCE FOR NIM OF C.220BPS AND UNDERLYING COSTS 650M; MEDIUM-TERM GUIDANCE REITERATED

* ‍STATUTORY PROFIT INCLUDES IMPACT OF A CONDUCT CHARGE OF £58M PRIMARILY DUE TO HISTORICAL PAYMENT PROTECTION INSURANCE (PPI) MIS-SELLING​

* ‍HY STABLE NET INTEREST MARGIN OF 2.27%​

* ‍LENDING MARKET WILL, WE EXPECT, REMAIN COMPETITIVE, ESPECIALLY FOR HOME LOANS​

* ‍FY CORE SME LENDING UP 6% TO £6.8BN​

* I‍T IS LIKELY THAT WE WILL SEE FUTURE PRICE PRESSURE IN MORTGAGE AND UNSECURED PERSONAL LOAN MARKET​

* EXPECT TO SEE MODEST PRESSURE ON NET INTEREST MARGIN AND OUR NIM GUIDANCE FOR FY2018 IS 220BPS​

* FY ‍UNDERLYING PROFIT BEFORE TAX UP 33% TO £293M​

* ‍FY CET1 RATIO OF 12.4%​

* ‍RECOMMENDING PAYMENT OF AN INAUGURAL DIVIDEND OF 1P PER SHARE​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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