National Australia Bank plans to set up credit unit in Paris catering to Europe
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(Reuters) - National Australia Bank is looking to set up a Europe-focused credit unit in Paris, the lender said on Friday, at a time when challenging market conditions are spurring other financial firms to wind down operations.Australia's third-largest lender said it was seeking regulatory approval from the French prudential authority to set up the unit to offer wholesale banking and investment services to much of Europe."Our Australian and New Zealand clients rely on our local knowledge and..