However, bad debts halved to £38m, Following the National Australia Bank 's ( NAB ) confirmation yesterday that it was spinning off Clydesdale Bank in early February 2016 , the CEO of Clydesdale , David Duffy , said that the bank could be a target or lead consolidation among Australia 's " challenger " banks , once it has been acquired by its parent , NAB . He added that there has been much talk about consolidation among the UK challenger banks , partly stimulated by the flotation and demerger from Lloyds of its TSB subsidiary .
Following the National Australia Bank 's ( NAB ) confirmation yesterday that it was spinning off Clydesdale Bank in early February 2016 , the CEO of Clydesdale , David Duffy , said that the bank could be a target or lead consolidation among Australia 's " challenger " banks , once it has been acquired by its parent , NAB . He added that there has been much talk about consolidation among the UK challenger banks , partly stimulated by the flotation and demerger from Lloyds of its TSB subsidiary .