National Australia Bank planning UK exit, FY net drops
Thorburn said on Thursday the bank needed "urgency" in dealing with its low-returning assets, including its wealth management arm. He did not specify measures that the bank could take to unlock value.
NAB's UK business, which includes Yorkshire and Clydesdale bank branches, has been a persistent thorn in its side, with charges for bad and doubtful debt responsible for annual profit declines four times since 2008.
NAB has also been hit by charges related to misconduct in the sale of payment-protection insurance and interest rate hedging products by its UK arm.
"We have an... read more
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