NAB share price dis­count

Townsville Bulletin - - Investor -

NA­TIONAL Aus­tralia Bank Ltd ( NAB) chief ex­ec­u­tive Cameron Clyne says the bank’s share price trades at a dis­count to its peers be­cause of its un­der­per­form­ing UK busi­ness. Mr Clyne said al­though NAB had pre­sented its cri­te­ria for sell­ing its Cly­des­dale and York­shire banks, or mak­ing ac­qui­si­tions, noth­ing had hap­pened in that mar­ket. ‘‘ Whilst that’s part of our port­fo­lio, that’s go­ing to drive a dis­count be­cause its an un­der­per­form­ing part of our busi­ness in ROE ( re­turn on equity) terms, and its also a more trou­bled part of the world eco­nom­i­cally,’’ Mr Clyne said.

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