NAB puts support behind UK arm

Making headlines today, The Australian Financial Review has reported that NAB will inject $516 million into its UK subsidiary Clydesdale Bank to give the lender a head start on its national rivals.

According to the paper, NAB has said it is in a good position to grow its balance sheet in the UK, which is now showing early signs of recovery.

NAB already owns Clydesdale and Yorkshire Banks in the UK – both of which are perceived to be two of the better regional banks.

Last month, The Adviser reported that NAB’s chief executive Cameron Clyne had made a final dash to the UK in order to win the race for more than 300 Royal Bank of Scotland branches.