It was not the set of results that Clydesdale and Yorkshire Bank Group (CYBG) CEO David Duffy wanted to announce, given that his bank had made an ambitious £1.6 billion bid for rival Virgin Money just over a week beforehand.
On Tuesday, the UK lender revealed a first-half loss of £76 million, thanks in part to a £350 million charge for the mis-selling of payment protection insurance. There was a deafening silence on the progress of the proposed merger itself.
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