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Asia-PacificAugust 6 2006

Community service

National Australia Bank has revamped its UK holdings, Clydesdale and Yorkshire banks, as local financial centres with an in-house manager style reminiscent of the 1970s. Stephen Timewell reports.
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How do medium-sized banks provide a differentiated strategy and compete effectively beyond price in highly competitive markets? Not an easy issue, but the National Australia Bank Group (NAB) has taken a long look at its under-performing UK banking businesses, Clydesdale Bank and Yorkshire Bank, and developed a new strategy that looks set to revitalise its UK banking operations.

Besides cutting 1200 jobs, the key to the new approach is the UK-wide network of recently launched financial solutions centres (FSCs), which offer a return to the style of a 1970s bank manager with decisions taken locally.

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