National Australia Bank is to slash jobs in its UK businesses by almost a fifth over the next 18 months to cut costs by A$285m (€169.8m) a year.

NAB, which owns the Clydesdale Bank in Scotland and Yorkshire Bank in England, said on Wednesday that it is to axe 1,700 of its 10,300 UK staff.

Nick Clark

National Australia Bank

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NAB to cull 20% of UK jobs

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