National Australia Bank de-lists from Tokyo Stock Exchange

Cost-cutting continues in the bankÆs Asian operations, but says de-listing won't affect its funding in the yen debt market.

In line with its strategy to reduce costs, National Australia Bank has lodged an application to de-list its shares from the Tokyo Stock Exchange.

AustraliaÆs second largest bank announced a rationalisation of its institutional banking activities in Asia last November which included the winding up of its Tokyo-based securities company.

At the time, the bank axed 400 jobs in the region and also closed offices in Singapore, Korea and Malaysia.

The move to de-list from the Tokyo stock exchange is...

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