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NAB faces international identity crisis

Headline: NAB faces international identity crisisSource: EuromoneyDate: November 2001Author: Julie Dalla-Costa AUSTRALIA         Frank Cicutto Australia’s largest domestic bank is struggling to establish a place for itself on the world stage. National Australia Bank (NAB) is presently the largest foreign acquirer in the UK domestic market. However its plans for UK expansion […]

January 1, 2000

Headline: NAB faces international identity crisis
Source: Euromoney
Date: November 2001
Author: Julie Dalla-Costa

AUSTRALIA

       
Frank Cicutto
Australia’s largest domestic bank is struggling to establish a place for itself on the world stage. National Australia Bank (NAB) is presently the largest foreign acquirer in the UK domestic market. However its plans for UK expansion have suffered a setback after losses with its US mortgage-servicing subsidiary, HomeSide.

NAB is an experienced acquirer in the UK, with a positive track record. Mike Macrow, bank analyst at Salomon Smith Barney in Melbourne, says: “Their track record has been reasonable in that most of the things they’ve bought are worth a lot more now than their acquisition prices.








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