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Clydesdale Bank owner announces strategic review
The Australian owner of the Clydesdale Bank and Yorkshire Bank is looking for options to sell or radically reform the businesses. National Australia Bank (NAB) has reported strong profits for the final quarter of 2011. But its British subsidiary has faced "increasingly difficult" trading. NAB has announced a review of Clydesdale and Yorkshire, to reposition them and improve returns, often seen as a prelude to a sale. Another option could be significant cutbacks to the scale of operations, with possible job losses. The bank has blamed the poor performance of the UK economy. Its chief executive said the austerity programme of the UK Government has also contributed to the harsh business environment and its decision to carry out the review.....Read more here---: BBC News - Clydesdale Bank owner announces strategic reviewYou must be logged in to post a comment.
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