SYDNEY, AUSTRALIA: The Australian Consumer and competition Commission (ACCC) will not oppose the proposed acquisition of Citigroup Australia Pty Limited’s Australian consumer business (Citi) by National Australia Bank Limited (ASX: NAB) after a review found the transaction would not substantially lessen competition. NAB and Citi overlap in the supply of consumer banking products and services,…
Tag: National Australia Bank (NAB)
National Australia Bank (NAB)
National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation and 52nd largest bank in the world as measured by total assets in 2019. As of November…
NAB agrees to sell MLC Wealth to IOOF for $1.44 billion
SYDNEY: National Australia Bank (NAB) has today entered into a Sale and Purchase Agreement to sell 100% of MLC Wealth (MLC) to IOOF Holdings Ltd. for a purchase price of $1.44 billion. The agreement follows the strategic decision announced by NAB in 2018 to pursue an exit of MLC and is in line with NAB’s…