National Australia Bank (NAB) will buy start-up neobank “86 400” for $220 million, but the deal will need to clear scrutiny from the competition watchdog.
NAB moved to acquire 86 400 to bolster its own neobank UBank.
Two people use National Australia Bank (NAB) ATMs in Melbourne on May 2, 2019. William West/AFP via Getty Images
Daniel Y. Teng
Editor
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Daniel Y. Teng
Editor
Daniel Y. Teng is based in Brisbane, Australia. He focuses on national affairs, including federal politics and Australia-China relations. Got a tip? Contact him at [email protected].
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