April 17, 2018 / 9:45 PM / 8 months ago

BRIEF-CYBG PLC Expects To Recognise £202 Mln (Pre-Tax) Charge In HY

April 18 (Reuters) - CYBG Plc:

* EXPECTS TO INCREASE ITS PROVISIONS FOR LEGACY PPI COSTS AS AT 31 MARCH 2018 BY £350 MILLION

* EXPECTS TO RECOGNISE A CHARGE OF £202 MILLION (PRE-TAX) IN ITS INCOME STATEMENT FOR SIX MONTH PERIOD ENDED 31 MARCH 2018

* CHARGE TO RESULT IN PRO FORMA REDUCTION IN GROUP’S CET 1 RATIO OF ABOUT 100 BASIS POINTS AS AT 31 DEC 2017

* IMPACT ON GROUP’S CET1 RATIO OF ABOUT 100 BASIS POINTS MEANS IT WILL BE OPERATING BELOW ITS GUIDANCE RANGE OF 12-13 PCT Source text for Eikon: Further company coverage:

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