National Australia Bank Limited
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation and 52nd largest bank in the world as measured by total assets in 2019
For almost 160 years, we’ve been helping our customers with their money. Today, we have more than 30,000 people serving 9,000,000 customers at more than 900 locations in Australia, New Zealand and around the world.
As Australia’s largest business bank, we work with small, medium and large businesses. We’re there from the beginning to support them through every stage of the business lifecycle.
NAB fund some of the most important infrastructure in our communities – including schools, hospitals and roads. And we do it in a way that’s responsible, inclusive and innovative.
NAB know that to be Australia’s leading bank, trusted by customers for exceptional service, we need to be good with money. And we need to be just as good with people, too.
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News
NAB faces decline in earnings as CEO set to retire
The National Australia Bank (ASX:NAB) is bracing for a less profitable departure for its CEO, Ross McEwan, as the bank experiences an unexpected 17% decline in cash earnings during the three months leading up to December.
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NAB’s monthly business survey highlights concerns
In a recent report by the National Australia Bank (ASX:NAB), a noticeable shift in business conditions signals a softer beginning to 2024 for many sectors. The latest monthly business survey reveals a dip in conditions, marking a departure from two years of above-average performance and raising concerns about the economic landscape moving forward.
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National Australia Bank names Andrew Irvine as new CEO
The National Australia Bank (ASX:NAB) has selected Andrew Irvine to succeed the current CEO, Ross McEwan. The bank announced on Wednesday morning that Andrew Irvine will assume the role of Group Chief Executive Officer and Managing Director, starting from April 2nd this year. Mr. Irvine has been serving as the NAB's Group Executive in charge of Business and Private Banking since 2020.
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Aussie economy resilient
In September, the Australian economy exhibited increased resilience, with the quarter ending despite signs of weakening price and labor cost pressures, as reported in the latest national business survey by the National Australia Bank (ASX:NAB).
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Analyst Views
NAB – UBS rates the stock as Neutral
The broker's rating falls to Neutral from Buy, after a strong recent share price rally. The target price rises to $35 from $33.
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NAB – Morgans rates the stock as Hold
National Australia Bank is now Morgans preferred big four bank exposure and the target price rises to $34 from $30.50. Hold.
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NAB – Macquarie rates the stock as Outperform
The Outperform rating and $32.50 target for National Australia Bank are maintained.
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NAB – UBS rates the stock as Buy
The broker likes National Australia with its potential for strong volume growth. The Buy rating and $30.50 target are unchanged.
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NAB – Credit Suisse rates the stock as Neutral
Credit Suisse downgrades to Neutral from Outperform, noting the stock has rallied 5% over the reporting season and is up 64% on a rolling year basis. Target is steady at $28.50.
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