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Tech & Science National Australia Bank plans to set up credit unit in Paris catering to Europe

05:25  29 november  2019
05:25  29 november  2019 Source:   reuters.com

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They are National Australia Bank ( NAB ), Commonwealth Bank (CommBank) the Australia and New Know the date you plan to arrive in Australia . It’s helpful if you know the exact address where you They also have details to assist you with finding a home, finding a job, setting up technology

Banking in Australia is dominated by four major banks : Commonwealth Bank of Australia , Westpac Banking Corporation, Australia and New Zealand Banking Group, and National Australia Bank .

a store front with a red umbrella: FILE PHOTO: The National Australia Bank Logo is seen on a branch in central Sydney © Reuters/Daniel Munoz FILE PHOTO: The National Australia Bank Logo is seen on a branch in central Sydney

National Australia Bank is looking to set up a Europe-focused credit unit in Paris, the lender said on Friday, at a time when challenging market conditions are spurring other financial firms to wind down operations.

Australia's third-largest lender said it was seeking regulatory approval from the French prudential authority to set up the unit to offer wholesale banking and investment services to much of Europe.

"Our Australian and New Zealand clients rely on our local knowledge and relationships to navigate the European market, so we're continuing to respond to this need," David Gall, the chief customer officer of corporate and institutional banking at NAB, said in a statement.

"Investors are looking for opportunities, particularly in the infrastructure sector."

NAB has operations in Britain, spanning foreign exchange to project financing, that also cater to Europe.

Last month, Australian investment bank Macquarie Group said it was exiting its cash equities business in Europe as returns took a hit from difficult market conditions and tougher regulations.

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