• Contact
  • Feedback
Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Disappointment all round in Britain

07 May 2010 4:33PM
NAB management continues to take a doggedly vague stance when invited to confirm the strategic options for its business in Britain.Pressed a couple of times at yesterday's investor briefing the bank's CEO, Cameron Clyne would only say "we've made no call on what we're doing in the UK".NAB is widely believed to be one of the bidders for the 300 plus branches and customers' lists being sold by Royal Bank of Scotland, and theories circulate over whether or not the bank may seek to rope in an outside investor for such a bid, for the whole of its UK banking franchise, or whether the bank might as well take advantage of the interest of other bidders and put Clydesdale Bank on the market.Clydesdale continues to be a drag on earnings in a manner that Bank of New Zealand, also operating in a recessed economy, is not.NAB's business in Britain reported cash earnings in the March 2010 half of £61 million, up from £28 million six months earlier.The return on assets (reported by NAB as cash earnings on average assets) was 0.28 per cent in the latest half, double the level of the second half of 2009 and a little better than the first half of 2009.Underlying profit even fell over the last half to £264 million.The plan for a recovery in earnings - which need to improve by a factor of four, measured on ROA - appears to be to ride the recovery in the British economy (such as it is)."We'll get everything from the upturn there," was Clyne's phrase.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
ConfidentiallySpeaking.com.au Logo
High-impact negotiation masterclass | July 9 & 16, 2025 | 5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Register Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use