Reuters reporting NAB is about to file for a (US) IPO of its US banking business, South Dakota-based Great Western Bank

Reuters reporting NAB is about to file for a (US) IPO of its US banking business, South Dakota-based Great Western Bank. Purchased for just below $1bn in 2008. There have been a number of smaller bank IPOs in the US this year (certainly a pick-up from previous years), typically pricing at a premium to tangible book though have tended not to rise a lot in the aftermarket....NAB has been under pressure to sell from all accounts but IPO may make more sense given there are so many smaller banks in the US and consolidation has been a bit slow since the financial crisis... (VIEW LINK)