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%.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles