National Australia Bank Limited
(ASX:NAB) has advised it will restructure its UK operations in an effort to lift its earnings.
The bank reported a first half loss for its UK banking arm and resolved to down-size the UK franchise.
The main changes include 1400 job redundancies and the closure of six offices.
The bank intends to take a focus toward retail and small business banking.
NAB posted a net profit of $5.2 billion in the 2011 financial year.
