The board of National Australia Bank (NAB) begins a two-day meeting today at which it is expected to discuss the fall-out from the High Court inspectors' report into its Irish subsidiary, National Irish Bank (NIB).
The meeting is expected to hear from the head of NAB's European operations, Mr Ross Pinney, rekindling speculation about a sale of NAB's two Irish operations, NIB and Northern Bank.
Other topics likely to be discussed at the embattled bank's board meeting include NAB's loss of market share in its Australian business and the appointment of a successor to its chief financial officer, Mr Richard McKinnon, who indicated he would retire around August.
Observers will also be keeping watch for any pointers to the future of the company's two UK banks, Yorkshire and Clydesdale.
However, banking industry sources said yesterday it was premature to talk about a sale of the European assets at the moment.
They believe the National Australia Bank board will await the outcome of a strategic review of the bank's business, due to be completed in September, before making such decisions.
If NIB and Northern Bank are put up for sale, they are likely to attract interest from a number of parties.
Goodbody Stockbrokers said yesterday that while it did not expect AIB to pursue either business, Bank of Ireland was likely to be interested in Northern Bank.
HBOS, formed from the merger of Halifax and Bank of Scotland, is a possible buyer while Ulster Bank's owner, Royal Bank of Scotland, might be interested in acquiring National Irish Bank.
