| South Korea growing into a major Asian influence. |
NATIONAL AUSTRALIA BANK (5) is the most profitable bank in this year’s Asian 100 table, reporting 78.8% growth to $1.8 billion in 2002. Results included contributions from Michigan National Bank and the troubled HomeSide US mortgage business, both of which have since been sold. NAB has been keen to expand through acquisition and already owns nearly 10% of St George Bank (28), Australia’s fifth-largest bank. NAB CEO Frank Ciccuto has not ruled out making a bid after 10-year old articles protecting St George from takeover lapsed in July.
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