NAB still has no agreement with NBNK Investments

The lender’s decision to sell its UK operations is still pending.

National Australia Bank's potential exit from Britain through the sale of its UK operations is not imminent, The Australian Financial Review reported on Thursday citing sources close to the bank.

There has been speculation of a sale after British banking venture NBNK Investments said it was in talks over an acquisition but declined to name the target. .

The paper said a source close to National Australia Bank denied any agreement with NBNK was imminent.

The source said Australia's biggest bank had held exploratory talks with NBNK and others but discussions had not progressed beyond it.

"Nothing has changed apart from these reports in the UK media and NBNK being forced to suspend their shares because of them," the paper cited a source as saying. It said the source added NAB remained comfortable holding the UK assets.

National Australia Bank owns 330 branches in the United Kingdom under the Yorkshire and Clydesdale brands with analysts estimating a book value of 2.8 billion pounds ($4.46 billion) for the assets.

View the full story in Reuters.

Follow the link for more news on

Also Read

Krungthai Bank temporarily closes 4 branches due to floods

Bank Negara Malaysia releases policy document on claims settlement practices

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit