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NAB sells $1.13b parcel of distressed property loans in UK

National Australia Bank has agreed to sell a £625 million ($1.13 billion) parcel of distressed loans from its UK commercial real estate portfolio to an affiliate of New York-based buyout group Cerberus...

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NAB flags more asset sales as it exits Britain

NAB’s new chief executive Andrew Thorburn✓ said there was “a lot at stake” as NAB sought to exit from Britain, and that while more asset sales should be expected following its $1.2 billion property...

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NAB still plagued by UK operations

National Australia Bank’s group returns continue to be stymied by its UK operations, despite recently offloading 20 per cent of its commercial real estate loans. While the GPB 625 million sale of...

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Eversheds, Harper Macleod, Morton Fraser, Optima on new Clydesdale panel

Clydesdale Bank has named Eversheds, Harper Macleod, Morton Fraser and Optima as the four firms on its new recoveries panel. The four firms were cut from the bank’s slimmed-down national roster earlier...

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National Australia Bank plans US IPO of Great Western Bank

National Australia Bank has confirmed it will file for an initial public offering of its US subsidiary, Great Western Bank. NAB, Australia's No. 4 lender by market value, has tapped investment banks...

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Scottish vote a threat for NAB's UK bank

The looming Scottish independence vote could pose further problems for National Australia Bank's troubled UK operations. A weekend poll put Scotland's pro-independence camp ahead for the first time,...

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NAB will move Clydesdale to England if Scotland secedes

National Australia Bank will move its Glasgow-based Clydesdale Bank to England if Scotland votes for independence at next week's referendum. With polls predicting a tight contest in the vote next...

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NAB boss Andrew Thorburn hoping it's Scotland the not so brave

NAB's new broom Andrew Thorburn probably had enough on his plate already and didn't really need to think of a Scottish independence vote this week. A Yes vote is unequivocally bad news for NAB and its...

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Clydesdale and Yorkshire Bank owner's fresh PPI provisions raise sale...

National Australia Bank sets aside £420m over PPI costs forcing it to issue profit warning The Australian owner of Clydesdale and Yorkshire banks has put aside £670m to cover misconduct costs including...

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NAB to reveal sales plan for Yorkshire and Clydesdale banks in UK

National Australia Bank chief executive Andrew Thorburn is expected to set out plans for selling the bank's UK businesses on Thursday, as he seeks to close a troubled chapter in the lender's history....

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NAB chief's blunt talk on Clydesdale puts him at the sharp end

ANDREW Thorburn, the new chief executive of National Australia Bank, is already helping ensure the institution's top brass retains its richly-deserved reputation for bluntness when it comes to its...

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Yorkshire bank plans £2bn float

Australian owner prepares listing for UK operations. National Australia Bank is preparing a £2bn-plus stockmarket float of its British operations next year, to end a nearly three-decade long attempt to...

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NAB urged to upgrade remit of its review into mis-selling

MPs hope to put pressure on National Australia Bank to upgrade its review of mis-sold loans to small businesses prior to a flotation of the Clydesdale and Yorkshire banks. It was reported at the...

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Claim of U-turn by bank in mis-sold loans case

THE man who leads the action group of National Australia Bank customers claiming to have been mis-sold complex business loans is claiming a significant retreat by the bank in the Court of Session. John...

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National Australia Bank offloads £1.2 billion of former Clydesdale property...

NATIONAL Australia Bank has taken a further step towards exiting the UK after offloading £1.2 billion of former Clydesdale Bank commercial property loans. The UK commercial real estate (CRE) portfolio...

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NAB Woos Investors For Yorkshire Bank Float

NAB is meeting investors this month to discuss a listing of its Clydesdale and Yorkshire banks, Sky News understands. National Australia Bank (NAB) is beginning to court investors ahead of a possible...

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FCA urged to put more pressure on Clydesdale review

The action group for small business customers of Clydesdale and Yorkshire banks has urged the Financial Conduct Authority to put more pressure on the bank to widen its review into the mis-selling of...

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Clydesdale Bank in firing line as businessman's claim of mis-sold loan could...

A small businessman who claims he was bankrupted after being mis-sold a complex loan by Clydesdale Bank has launched a legal battle which could open the floodgates to further claims against High Street...

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NAB may face more UK conduct charges, Deutsche Bank says

Parliamentary criticism of National Australia Bank's United Kingdom arm, Clydesdale Bank, has raised the risk it may face higher costs from compensating victims of misselling, which could affect plans...

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NAB's dream-destroying 'Death Star' that is Clydesdale Bank

In the summer of 2010 John Glare hit rock bottom. A financial landmine in his business loan with National Australia Bank's UK-based Clydesdale Bank had spectacularly gone off. It took his business and...

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