Clyne keeps faith in UK sell-off

Outgoing NAB boss says uncertainty over its troubled UK operations will not dissuade buyers.

National Australia Bank chief Cameron Clyne says ongoing uncertainty over its troubled operations in Britain will not dissuade buyers of the operations, as further charges offshore and slowing revenue in Australia weighed on the lender’s interim earnings.

Higher losses from mis-selling products in Britain and a slide in group margins stained NAB’s 8.5 per cent rise in cash profit to $3.15 billion for the six months to March 31, which was just shy of expectations.

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