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Making headlines today, The Australian Financial Review has reported that the UK retail banking sector is set for a comeback.
According to the paper, a new report by Deutsche Bank said the UK’s retail banking sector is “very attractive” and that “revenue and profit momentum is strong” thanks to an improving mortgage market.
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The report is a ray of light for Britain’s flagging banking system.
In addition, the report would come as a welcome relief for NAB’s UK arm – Clydesdale Bank.
Last week, NAB was forced to inject $680 million of fresh capital into its UK business.
