Are savers turning against their favourite bank?

National Australia Bank's online subsidiary UBank has been a favourite of Australian savers for eight years because of consistently high base and bonus rates on its USaver accounts.

UBank is a success for NAB, achieving “double-digit percentage increase in revenue” over the year to March 2016. However the deposit book of UBank decreased in the 2015 financial year. NAB last reported the deposit book to be worth $15.7 billion.

Source: Banking Day

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