British arm now profitable, says Clyne

Yes. NAB chief executive Cameron Clyne said the bank's operations in Britain were now profitable.

Bad debts at NAB's British unit in the last fiscal year led to the bank's first decline in annual profit since 2009.

Clyne is working to revive earnings growth following the hit from bad debts at the British unit, focusing on stabilising performance rather than cutting assets aggressively.

Investors have supported Clyne's view not to sell assets in a "fire sale," indicating backing for a measured recovery strategy.

According to the article, investors supported the decision not to sell assets in a "fire sale," meaning NAB avoided disposing of assets at distressed prices and is pursuing recovery instead.

The article notes Australian consumer and business confidence remained fragile, which creates a cautious economic backdrop that could make reviving earnings growth more challenging for NAB.

The article states the recent fall was NAB's first decline in annual profit since 2009.

Key takeaways from the article: NAB's British operations are now profitable, the bank is working to revive earnings after last fiscal year's bad debts, and investors have backed management's decision not to sell assets in a "fire sale." These points highlight progress in Britain but also ongoing challenges from fragile domestic confidence and prior asset quality issues.