Briefs: NAB UK ahead of target, ICICI bank makes plans, and ANZ picks director

David Thorburn, chief executive of National Australia Group Europe, told the Yorkshire Post that the turnaround plan for Clydesdale Bank is nearly a year ahead of schedule. The group is more than two thirds of the way through culling 1400 jobs. Thorburn also said that NAB is "ahead of expectations" in the run-off of its heavily impaired commercial property loan book.

ICICI Bank, India's second biggest bank, will open a branch in Australia, managing director Chanda Kochhar said at the bank's annual meeting, but did not say when. ICICI has been on the hunt for a banking authority in Australia for at least two years.

ANZ said Graeme Liebelt will join its board of directors. Liebelt was previously chief executive officer of Orica. He is currently a director of Amcor and of the Australian Foundation Investment Company.

ThinkSmart has entered into a three?year agreement with online retailer Kogan to provide point of sale finance. ThinkSmart said Kogan would be its first customer in Australia to use its "e-sign enabled, paperless online point of sale finance offering."

The NSW Magistrates Court has sentenced John Sharp, of Oatley, New South Wales, to a 12-month good behaviour bond for unlicensed credit activity. ASIC publicised the conviction. It said Sharp pleaded guilty on May 14 to "aiding and abetting" Pitline Pty Ltd, an agricultural investment company of which he was a director, to engage in a credit activity when it was not licensed to do so. Pitline also advertised on its website that it was able to engage in credit activity, which was in breach of credit legislation.

Standard & Poor's says it has affirmed the AA- insurer financial strength and counter-party credit ratings of Genworth Australia, and the AA rating on Genworth New Zealand. The outlooks on both remain negative.