Oz bank may offload Irish assets

NATIONAL Australia Bank (NAB) could sell its Irish and British assets soon, despite denials of such a plan by chief executive, John Stewart yesterday.

Bank of Scotland and Royal Bank of Scotland would be seen as natural buyers. Both banks have been expanding in Ireland and Britain and are interested in putting down deeper roots in both locations.

They would be "natural buyers" of NAB's European operations, said Stuart Draper, head of research at stockbrokers, Dolmen Butler Briscoe.