NAB to sell £625m of UK loans

Lender to offload largely non-performing loans to affiliate of Cerberus Global Investors.

National Australia Bank (NAB) has confirmed it will sell £625 million ($A1.12bn) of largely non-performing loans in its UK portfolio to an affiliate of Cerberus Global Investors.

The lender said the sale would reduce the gross loans balance of its UK commercial real estate portfolio by 20% to £2.38 billion at June 30, reducing gross impaired loans by 48%.


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