National Australia Nears U.K. Unit Exit as Focus Shifts Home

Updated on
  • Bank's cash profit jumps 16% on lower bad-debt charges
  • Lender to sell 80% of insurance unit for A$2.4 billion

National Australia Bank Ltd. agreed to sell its life-insurance business and announced a date for its U.K. exit as Chief Executive Officer Andrew Thorburn reshapes the lender that posted a 16 percent increase in 2015 cash profit to focus on Australia and New Zealand.

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