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BRIEF-CYBG Plc announces Q1 results, says FY17 guidance unchanged

Published 31/01/2017, 08:45 am
© Reuters. BRIEF-CYBG Plc announces Q1 results, says FY17 guidance unchanged
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Jan 31 (Reuters) - Cybg Plc CYBGC.L

* CET1 increased to 12.8% at 31 december 2016

* Mortgage book increased to £22.1 billion at 31 december - annualised growth of 4.4%, ahead of the market

* FY17 guidance remains unchanged

* Net Interest margin in the three months to 31 december was 222 bps

* Core SME book reduced by 0.6% in the three months to 31 december 2016

* NIM to be broadly flat in FY17 versus. FY16

* In Q1 SME lending of £574 million in new loans and facilities

* On track to deliver planned 5% reduction in fy17 underlying costs year on year

* "Are on track to deliver our target of £690 million - £700 million in underlying costs for this year"

* "Cost delivery remains on track as we implement structural change as part of our transformation programme and associated headcount reductions" Source text for Eikon: ID:nASX9LHJG4 Further company coverage: CYBGC.L

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