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NAB plans gain from UK pain

July 25, 2018
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The bank is to stand behind its British units and will rely onjoint efficiencies and staff cuts to make them work. (The Age — 8 February, 2005)
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National Australia Bank will suffer another earnings drop in the UKthis year, as profits on home loans continue to fall and it spendsmore on revamping its underperforming Clydesdale and Yorkshirebanks, group chief executive John Stewart said yesterday. (Sydney Morning Herald — 7 February, 2005)
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The National Australia Bank (NAB) says it is committed to its UK banking businesses following the sale of its Irish banks Chief executive John Stewart says the NAB is working to revitalise its two (ABC News — 8 February, 2005)
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National Australia Bank warned today that its earnings from theUnited Kingdom would be lower and that the company was focusing ona two- to three-year turnaround for the operation. (Australian Financial Review — 7 February, 2005)
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NAB says a two to three year turnaround of its banks in the UK wasachievable but the 2005 earnings would show a decline on theprevious year. (Sydney Morning Herald — 7 February, 2005)
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National Australia Bank chief executive John Stewart has warned that the bank’s troubled British arm will report lower profits this year, but he promised a turnaround in “two to three years” as it pursued a raft of remedial measures. (The Australian — 8 February, 2005)
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National Australia Bank is set to update the market on its strategyfor its two British banks. NAB is expected to confirm that it willretain ownership of the assets. (The Age — 7 February, 2005)
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In Britain, National Australia Bank plans to bring back the traditional “bank manager” – the reverse of its Australian structure. (The Australian — 8 February, 2005)
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National Australia Bank is expected to announce it will retainownership of its two banks in the UK after the sale was marred by abank robbery. (Sydney Morning Herald — 7 February, 2005)
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