07 October 2003 12:00am

Lloyds TSB didn't give away much, if any, new information overnight on the review of the bank's subsidiary National Bank of New Zealand.

At an investor presentation overnight, Lloyds' head of wholesale and international, Steve Targett, reiterated that the portfolio in current form does not make long-term strategic sense, that downsizing and exiting some businesses would enable Lloyds to liberate capital and reduce overall risk to the group, but that Lloyds would only do so if the pricing is right.

Both NBNZ and Lloyds' banking business in Brazil are for sale. Reports...