NAB keeps capital after Irish banks sale

National Australia Bank sold its two Irish bank subsidiaries for $2.5 billion to Denmark's Danske Bank Group. But NAB chief executive John Stewart ruled out returning any capital to shareholders at this stage. NAB said the proceeds would be put aside to cover potential “uncertainties” including restructuring charges and the cost of adjusting to new international accounting standards. The sale lifts NAB’s capital ratio by $1.8 billion, and well in excess of its targeted ratio.

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