National Australia Bank has finally launched a review of its UK business, which is battling a market in the grip of a prolonged recession.
NAB chief executive Cameron Clyne insists the business is still profitable, but margins have been squeezed and lending losses are again on the rise.
The review comes after NAB is said to have rejected a £2 billion ($3.2 billion) offer for Clydesdale last September from private equity firm Sun Capital. Several credit-rating agencies downgraded Clydesdale late last year amid speculation NAB had been planning to offload all or part of the bank
Read more: http://www.smh.com.au/business/nab-launches-review-of-uk-business-20120207-1r2pd.html#ixzz1leTmyfe5
No comments:
Post a Comment