National Australia Bank is poised to build on the ties between its business and wealth divisions following its failed acquisition of AXA Asia Pacific, the Sydney Morning Herald writes.

The Australian competition regulator had last month decided to block NAB's $13 billion takeover offer for AXA's Australian businesses, causing a major blow to chief executive Cameron Clyne's wealth management expansion plans in the country. On 14 September, NAB had finally decided to let go of its pursuit.

Now, Clyne is said to be looking at focussing on organic growth, particularly between its business operations and MLC wealth arm. NAB's wide client base at its business unit is said to be source of opportunities for MLC, in the sense that the business bank's wealth creation abilities may be linked with MLC to "invest and grow wealth."

More details on the new strategy are expected to be outlined when NAB unveils its full year results on 27 October, the news service said. Analysts are reportedly forecasting around $4.4 billion in net cash profits for the year, up from $600 million in 2009.