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Monday, 20-Oct-2014 17:29 Email | Share | Bookmark
Australia's Nab Sells $1 Billion Uk Property Loan Portfolio - Ya

Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done Australia's NAB sells $1 billion UK property loan portfolio visit the website 1 hour ago . View photo Man is reflected in a glass panel next to a woman using a National Australia Bank automated teller machine MELBOURNE (Reuters) - National Australia Bank Ltd has agreed to sell a 625 million pound ($1 billion) portfolio of mostly non-performing UK commercial property loans to an affiliate of private equity firm Cerberus Global Investors. NAB, which has seen its UK business drag on earnings in recent years, declined to disclose the sale price. But it said the sale would generate a small gain above net book value and would release about 127 million pounds in capital for the group. NAB owns the Clydesdale and Yorkshire Banks in the United Kingdom. <br>More:

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