National Australia Bank buys RHG's A$1 bln mortgages

SYDNEY, Feb 8 (Reuters) - National Australia Bank Ltd (NAB.AX: Quote, Profile, Research), Australia's biggest lender, said on Friday it had acquired about A$1 billion ($893 million) worth of mortgages originated by RHG Ltd (RHG.AX: Quote, Profile, Research).

RHG, previously known as RAMS Home Loans Group Ltd, last year failed to refinance $5 billion in debt due to the global credit crisis. ($1=A$1.12) (Reporting by Denny Thomas;)