NAB looks to sell Custom Fleet

National Australia Bank said yesterday that it was seeking expressions of interest for its wholly owned fleet leasing and management business, Custom Fleet.

NAB said no decision had been made to sell the business and any decision would be made after a process that could take several months.

The call for interest follows several inquiries from third parties in relation to Custom Fleet, which operates a vehicle fleet management and leasing business in Australia and New Zealand.

Commonwealth Bank sold its car-leasing unit, which managed about 45,000 vehicles, to South Africa's Super Group for A$63 million in 2004.