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22 Business View Australia - August 2015
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UK Banking
operates under
the Clydesdale and Yorkshire Bank
brands offering a range of banking
services for both personal and
business customers. These services
are delivered through a network of
retail branches, business and private
banking centers, direct banking and
broker based channels.
•
NAB UK CRE
portfolio business
was created on Oct. 5, 2012 with
the transfer of £5.6 billion of
commercial real estate loan assets
fromClydesdale Bank plc (Clydesdale
Bank) to the company, managed via
its London branch.
2014 was a challenging year
for the group. The additional
provisioning for UK conduct related
matters, combined with capitalized
software and deferred tax asset
(DTA) provisions was disappointing.
However, these issues are being dealt
with transparently and appropriately,
and the underlying performance of
the group remains strong.
PUBLIC SECT