National Australia Bank (NAB) has signalled its intent to exit the UK banking sector.
It currently owns the Clydesdale and Yorkshire Banks.
The news came as it published its full-year results for 2014.
Andrew Thorburn, NAB group chief executive officer, said: “While our Australia and New Zealand franchises are in good shape, it is disappointing to record a full year result that includes $1.5 billion after tax in UK conduct provisions and other impairments.
“Our clear focus is on our Australian and New Zealand franchises and providing a better customer experience, and as a result we need greater urgency dealing to our remaining low returning assets. In relation to exiting UK Banking this means we are now examining a broader range of options including those provided by public markets.”
The two brands have 320 branches in the country. Earlier in the year NAB said it was to close around 30 branches.
Last year, the Financial Conduct Authority (FCA) fined Clydesdale Bank £8.9 million for failing to inform its customers clearly of their rights after the bank miscalculated the repayments on over 42,500 mortgages.
