November 21, 2017 / 7:14 AM / 21 days ago

Lender CYBG posts higher full-year profit

Nov 21 (Reuters) - Lender CYBG Plc on Tuesday posted a higher full-year pretax profit, but said the lending market would remain competitive in 2018 and that it would face price pressure in its mortgage and unsecured personal loan business.

The company, which made its London debut in last year after it was spun off by National Australia Bank, said underlying profit before tax rose 33 percent to 293 million pounds ($388 million) for the year ended Sept. 30.

CYBG said it expected to see modest pressure on net interest margin (NIM) in 2018, guiding to NIM of 220 basis points next year.

($1 = 0.7548 pounds)

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Saumyadeb Chakrabarty

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