British arm now profitable, says Clyne
National Australia Bank's operations in Britain were now profitable while Australian consumer and business confidence remained fragile, chief executive Cameron Clyne said. Mr Clyne, pictured, is trying to revive earnings growth after bad debts at the bank's British unit last fiscal year led to the first decline in annual profit since 2009. Investors had supported his view not to sell assets in a "fire sale", he said.
National Australia Bank's operations in Britain were now profitable while Australian consumer and business confidence remained fragile, chief executive Cameron Clyne said. Mr Clyne, pictured, is trying to revive earnings growth after bad debts at the bank's British unit last fiscal year led to the first decline in annual profit since 2009. Investors had supported his view not to sell assets in a "fire sale", he said.
