Tag: NAB

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.

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.

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.

The National Australia Bank (NAB) releases its full year figures this Thursday and while the earnings figure will generate headlines, that is not going to be the centre of attention.

National Australia Bank (NAB) has joined its peers (Westpac, ANZ and the Commonwealth) in reporting another upsurge in bad debts, this time for the three months to June.

The National Australia Bank (NAB), the third of our big four banks, has been accused by ASIC of manipulating the benchmark interbank borrowing rate, joining rivals the ANZ and Westpac (WBC) in the sights of the corporate regulator.

The National Australia Bank (NAB) has produced the simplest half year result of the three reporting majors this week – with a modest rise in cash earnings, on a modest rise in group revenue and an unchanged final dividend – all after a modest rise in bad debts.

The National Australia Bank (NAB) has continued the trend of solid bank updates that we saw yesterday from the smaller Bendigo and Adelaide (BEN), and from the Commonwealth (CBA) last week, with an 8% rise in unaudited cash profits for the December quarter to around $1.7 billion.

The National Australia Bank (NAB) has surprised by cutting the pricing for its Clydesdale Bank initial public offering by around 25%.

NAB shares rose yesterday as shareholders met in Perth to mark the final annual meeting of retiring chair, Michael Chaney, who has been at the helm of the bank for the past decade.

A busy results announcement from the NAB this morning – cash earnings up 2.4% to $5.84 billion, while the final dividend was an unchanged 99 cents, making a total for the year of $1.98 a share, as foreshadowed earlier this year. Statutory profit was $6.34 billion.

Bank shares turned higher yesterday thanks to a combination of sellers’ remorse from Friday, a reasonable trading update from the National Australia Bank (NAB) and a solid full year profit for Bendigo and Adelaide Bank (BEN).

The National Australia Bank (NAB) is pushing ahead with its plans to get rid of the troubled Clydesdale and Yorkshire banking business in the UK by the end of this year.

It’s a good thing that the National Australia Bank’s (NAB) shares remain suspended until next Tuesday as the bank beds down the bulk of its record $5.5 billion rights issue.

The National Australia Bank (NAB) shocked the market this morning revealing a massive $5.5 billion rights issue to build its capital levels, the proposed demerger and floating of its troubled UK banking operations, a higher cash profit, a higher dividend and a change of chairman.

Shareholders in the National Australia Bank (NAB) face the unhappy prospect their bank will have to fork out hundreds of millions dollars above what has already been set aside to meet the rising cost of misselling financial insurance products by its UK subsidiary, Clydesdale.

National Australia Bank (NAB) shareholders weren’t all that convinced, but the rest of the sector was by the first quarter trading update.

The annual result from the National Australia Bank (NAB) came in as forecast, lower because of $1.3 billion in higher write-offs in the UK banking operation and some local asset write downs, all of which the bank told us about in updated guidance earlier this month.

The National Australia Bank (NAB) supported its share price yesterday, and those of other banks, by undertaking to boost dividend payout to shareholders despite revealing a shock 14% fall in 2013-14 profit because of another bout of write-downs in the UK and Australasia totalling just on $1.3 billion.

Despite weaker revenues, the National Australia Bank (NAB) today joined peer banks ANZ and Commonwealth (CBA) in reporting broadly satisfactory figures with a 7% rise in unaudited cash earnings for the three months to June 30 to $1.7 billion.

The National Australia Bank (NAB) has completed a record interim earnings season for our big four banks.

A surprise from the National Australia Bank (NAB) yesterday with CEO Cameron Clyne announcing that he will retire in August.

The National Australia Bank (NAB) has joined the trend of banks in reporting an uplift in cash earnings for the latter months of 2013.

Unlike the reaction to the ANZ profit earlier this week, investors failed to give a positive welcome to the full year results from NAB, with shares in the bank falling close to 4% at one stage yesterday after it revealed a 9% rise in cash earnings and a higher dividend.

The National Australia Bank has fallen further behind its three big rivals (CBA, Westpac and ANZ), despite a rebound in earnings and a lift in interim dividend for the six months to March 31. The NAB yesterday reported cash earnings to $2.92 billion, up 3.1% with the interim dividend up 3c to 93c a share.

There should be a lot of shamefaced and apologetic investors, brokers and fund managers for the silly sell-off yesterday morning in a follow on reaction to the US market slump on Monday night.

Well, pitching yourself as being customer-friendly by ending charges and fees, such as the controversial home loan exit imposts (and insulting its peers in its advertising) seems to have paid off for the National Australia Bank.

A sigh of relief was heard around the markets yesterday as both Macquarie Group (see below) and the National Australia Bank revealed slightly better than forecast trading updates.

Shares in the National Australia Bank (NAB) closed up nearly 2.5% after a better than expected profit rise for the September 30 year and a small, but surprising lift in final dividend.

National Australia Bank says it had quarterly cash earnings of $1.1 billion in the June quarter, in line with the quarterly average of the first half, as personal and business lending grew modestly.

Shares in the National Australia Bank were sold off more than 3% yesterday in the general sell-off as the bank confirmed its latest expansion move in America.

The National Australia Bank has joined its rivals in the ANZ and Westpac in producing interim earnings that failed to ignite much interest.

There’s an overriding message from the NAB AXA deal yesterday and then the bank’s 2009 AGM in Brisbane.