National Australia Bank Ltd. (NAB) announced on May 7, 2015, good operating results from its core banking and wealth management businesses in Australia and New Zealand, with a 5.4% increase in cash profit compared with the previous six-month period. NAB has also announced that it plans to exit its U.K. banking business via a demerger and an IPO with an intention to complete the process by the end of calendar 2015. The accounting loss on the demerger is expected to be broadly commensurate with the reduction in regulatory risk weighted assets. NAB will also continue to provide capital support against potential losses related to legacy conduct costs from the U.K. business, subject to a cap of £1.7 billion. This support
