NAB national australia bank limited

News: NAB’s Clydesdale to shift if Yes vote

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    National Australia Bank Limited (ASX:NAB) says its subsidiary Clydesdale Bank would move to England if Scotland should vote Yes in its independence referendum.
     
    The bank says the move is a contingency plan to address uncertainties and risks around the terms of separation should Scotland become independent.
     
    CEO Andrew Thorburn says registering the bank in England would provide greater clarity.
     
    The company says the move would be subject to regulatory approvals and the timing and costs involved would be determined in due course.
     
    NAB reported a net profit of $2.9 billion in the six months to March this year. 
 
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