National Australia Bank, which owns Clydesdale Bank and Yorkshire Bank, says it has increased its lending to agriculture by 16% in the year to September 30.

Clydesdale’s head of rural business David Douglas said: “This has given us a very significant increase in market share, based on a mix of new business and fresh investments by existing customers. NAB has also unveiled pre-tax profits of £108m (down from £343m last year) and a pledge to lend £2bn to business and mortgage customers over two years.