Bank Shares Rally After NZ Regulators Lower Capital Hurdles
The shares of Australia’s big four banks rose strongly yesterday after the Reserve Bank of New Zealand watered down its new capital requirements.
Read MoreTag: NAB
Bank Earnings Review: Is The Worst Behind Us?
KPMG’s Major Australian Banks Year-End Analysis Report 2018-19 finds that the four majors reported a combined cash profit after tax from continuing operations of $26.9 billion, down 7.8% on FY2018.
Read MoreNAB Cuts Dividend As Cash Earnings Slip 10.6%
As expected the NAB has followed its rivals in Westpac and the ANZ in cutting returns to shareholders after a slide in earnings and revenue for the year to September 30.
Read MoreNAB Next In The Firing Line As Westpac Disappoints
NAB shares slid yesterday in the wake of Westpac’s surprise $2.5 billion capital raising and dividend cut as investors said the Melbourne-based lender would be the next major to cut its payout or even approach shareholders for more money.
Read More“Premium”: RBA Warns On Bank Earnings
In its second and final stability review for 2019, the RBA has warned on a combination of factors that will depress bank earnings, starting with the continuing rise in customer remediation over abuses exposed by the Hayne Royal Commission.
Read MoreNAB – UBS rates the stock as Sell
The bank will take $1.19bn in additional remediation charges in the second half in its results. This top-up is driven by the inclusion of provisions for customer refunds for self-employed advisers.
Read More“Significant”: NAB Unveils Billion-Dollar Remediation Hit
National Australia Bank shares lost 2.3% yesterday after the bank revealed another massive provision to cover the cost of remediating customer complaints.
Read MoreCould APRA’s New Capital Requirements Crimp Bank Dividends?
The chances of the banks paying higher dividends in the coming years look to have diminished after APRA ordered Westpac, NAB and ANZ to set a total of $1.5 billion in extra capital aside.
Read MoreBanks Respond To Revised Capital Buffers
Weaker bank shares helped take the wider market lower for another session, but the day’s loss was nowhere near as damaging as Monday’s 1.2% slump.
Read MoreHow The Banks Responded To The RBA Decision
The RBA’s second 0.25% rate in two months had a predictable impact on bank share prices – down they went, taking the ASX 200 with them.
Read MoreCBA Leads Bank Rebound In June Half
Redemption? Sort of; but the way the share prices of Australian banks rebounded in the June half year was extremely helpful to super funds and self-managed funds and investors generally.
Read MoreRBA Boss Warns Banks On Undermining The Economy
ANZ and Westpac failed to pass on the full 0.25% cut from the Reserve Bank to its mortgage customers and immediately faced pressure from the central bank.
Read MoreBanks Bounce As APRA Loosens Lending Reins
Bank shares had a second good day on the ASX yesterday after their post-election surge on Monday. Monday it was Prime Minister Morrison’s surprise win, yesterday it was APRA as the financial prudential regulator revealed plans to relax a key restriction on home loans.
Read MoreBanks – Is The Worst Over? No.
Some brokers have started to upgrade their recommendations to “BUY” on the banks and believe that they represent value in and around these levels. I still strongly disagree.
Read MoreNAB Cuts Dividend As Remediation Costs Hit Bottom Line
NAB has sliced its interim dividend by 16 cents a share – from 99 cents to 83 cents for the six months to March 31 after earnings took a hit from the costs of customer remediation payments.
Read MoreNAB – Credit Suisse rates the stock as Neutral
The bank has announced additional remediation charges of $525m after tax. This is expected to reduce first-half cash earnings by an estimated -$325m.
Read MoreRBA Downbeat On Outlook For Major Banks
With three big banks reporting interim results in early May, it will pay investors to look at the first Financial Stability Review of 2019 from the Reserve Bank and remarks on the profits and earnings.
Read MoreNAB Cans Mortgage Introducer Referral Payments
While Westpac was revealing more remediation costs for its customers, the NAB was cutting one of the more controversial fees financial groups pay – so-called introducer fees.
Read MoreNAB Issues New Mea Culpa After “Extremely Challenging” Period
National Australia Bank’s incoming chair Phil Chronican has vowed the bank will step up the pace of compensating customers, as he reiterated the need to revamp executive pay after last year’s investor backlash.
Read MoreNAB Unveils New Chair To Replace Ken Henry
The National Australia has named former Westpac and ANZ executive, Phil Cronican as its new chair, to replace Ken Henry who leaves shortly.
Read MoreBanks Emerge From The Royal Commission Blues
It’s only been a month since Hayne’s final report has been released, but far from driving a stake through the financial hearts of the Big Four Banks – Commonwealth, Westpac, ANZ and NAB – their position is returning to being as dominant as ever.
Read MoreTurmoil At NAB As Chair, CEO Resign
The banking and finance royal commission has scored another couple of high profile scalps at the National Australia bank to go with casualties at the AMP, Freedom Insurance and IOOF.
Read MoreRoyal Commission Triggers Relief Rally In Financials
More than $20 billion was added to the value of listed financials – lead by the big four banks yesterday after investors concluded the outcome from the Hayne banking and finance royal commission would not damage their business models our futures.
Read MoreRoyal Commission Singles Out NAB CEO & Chair
The National Australia Bank is in the gun following the release of the final report from the royal commission which contained very sharp criticism of the bank’s chairman and CEO.
Read MoreBanks, Regulators Brace For Royal Commission Fallout
The long-awaited final report from the finance and banking Royal Commission will be released this afternoon at 4.10 pm (there is a media lock up this afternoon ahead of the release) and while there will be a lot of heat and light and promises from the Morrison government, there will be nothing concrete.
Read MoreNAB Caves In On Mortgage Rates
NAB had for months resisted following CBA, Westpac, and ANZ in imposing out-of-cycle rate hikes, but its now happy 2019 home loan borrowers with the bank finally joining its rivals in lifting rates.
Read MoreBelligerent Shareholders Strike Out At Banks
Now for the AMP next May after three of the four big banks took hits from upset shareholders at annual meetings in November and December.
Read MoreKiwi Central Bank Set Force Big Four Banks To Boost Capital Reserves
Australia’s big four banks, already reeling from a stagnant home loan market and revenues, the fallout from the Hayne Royal Commission and censure from upset shareholders, now face more financial problems in their most profitable offshore market – New Zealand.
Read MoreNAB, ANZ Set To Face Shareholder Revolt
Westpac was on Wednesday, it will be the turn of NAB and ANZ next Wednesday to feel the wrath of shareholder displease over the revelations at the Hayne royal commission.
Read MoreAPRA Eyes Higher Bank Capital Requirements
More hybrids and other issues to come from our slimming banks? That could be the outcome of a new move by APRA, the banking regulator to force banks to hold more loss-absorbing capital by 2023.
Read MoreWhat’s Next For The Big Four Banks?
The big four banks have survived a tough year financially unscathed, but with their reputations sullied what does 2019 look like?
Read MoreNAB Profit Slips 14%, Dividend Steady
A 14% slump in cash net profit, to $5.702 billion in the year to September has not stopped the National Australia Bank from maintaining final and full year dividends.
Read MoreNAB – Macquarie rates the stock as Outperform
NAB has confirmed the customer rebate charge of $314 flagged at the quarterly update and warned there could be further costs in FY19.
Read MoreNAB Adds To Royal Commission Damage Bill
The National Australia Bank has joined the chorus line of banks revealing extra costs from the Hayne royal commission’s proceedings this year for customer refunds.
Read MoreAnalysts Raise Royal Commission Damage Bill
Banking analysts at Morgan Stanley have lifted their estimate for customer remediation costs for the banks to $3 billion over the next two years, up from an earlier forecast of just $500 million.
Read More“Customer Focus” Sees NAB Reshape Exec Remuneration
On Monday there was a significant restructuring of upper-level National Australia Bank managers, on Wednesday, the bank revealed an equally important revamp of pay and rewards for the new look management team.
Read MoreNAB Reshuffle Paves Way For Former NSW Premier
So has former NSW Premier, Mike Baird moved into the running for the top job at the National Australia Bank – 21 months after surprisingly pulling the plug on being the leader of NSW?
Read MoreNAB – Morgan Stanley rates the stock as Underweight
National Australia Bank will leave its standard variable home loan unchanged at 5.24%. Morgan Stanley believes the decision suggests scrutiny of conduct and competition is affecting management’s decision-making and will weigh on profitability and the performance of the share price.
Read MoreInvestors Unconvinced On NAB’s Home Loans Rates Strategy
NAB shareholders remain cautious to the news that the bank will not follow rivals in hiking its home loan interest rates in the wake of moves by Westpac, the Commonwealth, and ANZ.
Read MoreCompliance Costs Bite As NAB Provides Mixed Q3 Update
Investors noted the mixed nature of the third quarter trading update from the National Australia Bank and sent the shares up 1.5% to $28.37 around midday, ignoring all the poor publicity from the royal commission.
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