Bank shrugs off jobs loss reports

NATIONAL Australia Bank has dismissed weekend stories about 400 jobs being lost in the Irish divisions as a bid by potential buyers to talk down the price.

A spokesman in London for NAB also rejected claims that up to 40 branches, mainly in the North, would be closed if the banks are not sold to a third party in the near future.

NAB's spokesman said the speculation was unsubstantiated and warned NAB will not capitulate over price in the case of its two Irish subsidiaries, Northern Bank and National Irish Bank.