yeah the whole UK thematic is pretty frustrating but at least...

yeah the whole UK thematic is pretty frustrating but at least its in run off phase and the impact will definitely diminish. Unfortunately there is a customer base and the NAB retains some responsibility to then (despite not looking to take on new business). I think the far more aspect about NAB is that they've taken advantage of the subdued business environment over the past year or so to push through a drastic restructure, with the hope that credit appetite will improve in 2014 and beyond. If you hold that view, then the next year should be great for NAB. Business confidence is finally picking up, and this hopefully will flow through to hiring, borrowing, credit growth blah blah blah..... If not, then we should expect a similar result to today which is really not that bad i think. God opp to top up for the Santa Clause rally!