National Australia Bank continue redundancies

National Australia Bank took job losses at its Irish and British business to more than 900 today after confirming a third round of redundancies.

The group, which owns the National Irish Bank and Belfast’s Northern Bank said the cuts focused on back offices.

The latest redundancies will see 220 jobs go by next September after 250 went in April and 440 were lost two months ago.

Many of the losses stem from National Australia Bank’s Positioning for Growth strategy announced in April.

Melbourne-based National Australia, which recently approached Abbey National about a potential takeover offer, employs 13,000 people in the division.

Earlier this month, the group announced a 62% rise in annual net profits to Aus $3.38bn (€1.9bn).

Banking operations in the UK and Ireland achieved a 10% increase in profits with “good growth” in retail deposits.

The company said at the time: “We had a pivotal year and the group is well placed for the future.

We will continue to deliver on efficiency improvements which are under our control.”