Banks – 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 MoreTag: NAB
NAB 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.
Read MoreNAB Confirms MLC Sale As H1 Profit Dips
National Australia Bank hit the mark so far as interim earnings and dividend are concerned, but is selling its MLC wealth management arm.
Read MoreNAB Flags $755m Of Restructuring Costs
Three major banks – the ANZ, NAB and Westpac – report their 2017-18 interims from May 1 (today week).
Read MoreNAB – Morgan Stanley rates as Underweight
Upon further analysis, Morgan Stanley believes management can deliver on its cost targets while keeping loan loss rates below peers in Australia. However, the analysts also see earnings risks and this leads to the conclusion that "too much optimism" is surrounding the share price.
Read MoreExpenses Bite NAB Earnings
National Australia Bank said its first-quarter cash profit rose 3% from a year ago to $1.65 billion.
Read MoreNAB Profit Edges Up 2.5%, Dividend Unchanged
The National Australia Bank will pay an unchanged final dividend of 99 cents a share after meeting market expectations with a cash profit of $6.642 billion for the year to September 30.
Read MoreNAB Next Bank To Report Earnings
The National Australia Bank joins the reporting list of the big banks this Thursday and investors will be looking for a repeat of the ANZ’s sold result, with help, like the ANZ, from a sharp fall in bad debt provisions.
Read MoreNAB – UBS rates the stock as Sell
The bank’s third quarter trading update reveal cash net profit of $1.7bn. The bank is tracking in line with expectations to date. UBS suspects mortgage re-pricing is likely to fully offset the impact of the bank levy.
Read MoreRate Hikes Help NAB Lift Q3 Profit To $1.7bn
Like the Commonwealth Bank, the National Australia Bank will see stronger revenue gains in the next few months from mortgage rate increases that hit at the end of the June quarter, falling loan impairments and no trouble raising the fresh capital demanded by regulators.
Read MoreNAB – Citi rates the stock as Sell
The sector landscape is changing, and not for the better. Citi analysts see a domestic banking sector that is managing costs well but is feeling the pinch from multiple sides.
Read MoreNAB Posts $3.29b Interim Profit, Dividend Unchanged
The National Australia Bank has left dividend steady at 99 cents after a modest 2.3 million rise in cash earnings to $3.29 billion for the six months to March 31.
Read MoreInvestors Shrug Off NAB Result
Investors shrugged off yesterday’s first quarter trading update from the National Australia Bank (NAB), giving it the benefit of doubt on a 5% jump in expenses in the three months.
Read MoreNAB Slips In Q1 As Costs Bite
The National Australia Bank (NAB) saw earnings sag slightly in the three months to the end of December, the bank’s first quarter, as a rise in expenses more than offset a small rise in group revenue – a situation that will worry investors and could see the shares sold off later today.
Read MoreNAB Dividend Unchanged, Completes ‘Milestone’ Year
The National Australia Bank (NAB) will pay an unchanged final dividend of 99 cents a share after reporting a forecast 4% rise in cash earnings to $6.48 billion for the year to September.
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