Americas adventure for NAB agribusiness
One strategic shift dropped by National Australia Bank management on Friday was plans to enter the agribusiness banking segment in North and Latin America.NAB has previously highlighted agribusiness as one niche through which it might pursue offshore expansion. The bank has in the past suggested it might provide one avenue for growth in China, for example, though it did not mention this on Friday.In Friday's investor presentation NAB did not much elaborate on its plans in the Americas, other than to say that it was assessing opportunities, had been doing so for 18 months and noted that the supply of farm credit in the United States was highly fragmented outside of the otherwise dominant market share held by the 100 or so farm credit banks and related institutions, all of which are backed by the US government.