Making headlines today, The Australian Financial Review has reported that the UK retail banking sector is set for a comeback.
According to the paper, a new report by Deutsche Bank said the UK’s retail banking sector is “very attractive” and that “revenue and profit momentum is strong” thanks to an improving mortgage market.
The report is a ray of light for Britain’s flagging banking system.
In addition, the report would come as a welcome relief for NAB’s UK arm – Clydesdale Bank.
Last week, NAB was forced to inject $680 million of fresh capital into its UK business.