29 Nov 2019

NAB seeks regulatory approval to establish licensed EU subsidiary in Paris

National Australia Bank Limited (NAB) is pleased to announce today that it will be submitting an application to the French prudential supervision and resolution authority (Autorité de contrôle prudentiel et de résolution) to establish a licensed subsidiary in Paris.

NAB is seeking authorisation to establish the subsidiary as a credit institution in France.

Chief Customer Officer Corporate & Institutional Banking, David Gall, said NAB was building on its already strong position in Europe to continue to support its business customers as a global strategic partner.

“Our Australian and New Zealand clients rely on our local knowledge and relationships to navigate the European market so we’re continuing to respond to this need. Investors are looking for opportunities, particularly in the infrastructure sector, where NAB is among the top 10 banks globally by project finance deal value and transaction numbers,” Mr Gall said.

“Around 140 Australian companies are already present in France, employing 40,000 people. They span a range of services sectors, including banking and finance, healthcare, information and telecommunications, and transport and logistics,” Mr Gall said.

“Our subsidiary will offer a range of wholesale banking and investment services products to our customers in the European Economic Area (EEA). We look forward to continuing to help our customers invest and grow.”

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