NAB navigates tough year to deliver near-expected earnings
National Australia Bank (ASX:NAB) has released its full-year financial results for 2024, revealing a statutory net profit of $6.96bn, down 6.1% from the prior year’s $7.41bn.
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NAB revises commodity forecasts
With iron ore prices falling to near two-year lows on Thursday, the National Australia Bank (ASX:NAB) has updated its forecasts for commodity prices for the next year and beyond. Apart from gold, the outlook is particularly bleak, especially for iron ore and coking coal companies.
Read MoreNAB Survey: Modest improvement in July business conditions, confidence wanes
The National Australia Bank (ASX:NAB) says its monthly survey of business has picked up the first improvement in conditions in five months in July, while confidence eased from June’s uptick.
Read MoreAnalysis of NAB, Westpac, Lyft
Fund Manager Chris Pedersen discusses National Australia Bank, Westpac Banking Corporation and Lyft.
Read MoreNAB reports steady results
As forecast by most analysts, it was a "steady as she goes" outcome for the National Australia Bank's (ASX:NAB) 2023-24 half-year, with shareholders to receive a small lift in their interim payout and a larger buyback, despite a well-anticipated dip in earnings.
Read MoreAnalysing the impact of weak business earnings on Australian banks
Will weak business earnings curb the results of the National Australia Bank (ASX:NAB) this week by adding to the existing pressure on its key measure, the net interest margin (NIM)?
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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.
Read MoreNAB’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.
Read MoreNational 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.
Read MoreAussie 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).
Read MoreNAB announces $1.5 billion share buyback as Q3 cash earnings rise
The National Australia Bank (ASX:NAB) revealed a $1.5 billion share buyback on Tuesday morning following news of a modest 5.8% increase in third-quarter cash earnings to $1.90 billion.
Read MoreLoan Stress Creep the Chief Concern for Local Banks
Westpac’s interim results yesterday capped the half way point of the Big Four’s FY2022-23, with some clear signs of loan stress already emerging.
Read MoreNAB’s NIMble Accounting Fools Nobody
Shares in the NAB sold off yesterday after analysts were unimpressed with higher loan interest rates being converted into a boost for net interest margin.
Read MoreUps and Downs at the Big End of Town
Thursday’s ASX session saw investors seeming to prefer the results announced by NAB and Telstra to that of fallen financial giant AMP, whose shares fell more than 13% on the day.
Read MoreBig Four Bank Earnings Solid but Costs a Concern
The big four banks have all now reported, with the group lifting its combined earnings 7% to a total of $28.5 billion for 2021-22 – with the rising rate environment helping.
Read MoreMajor Bank Borrowers to Bear Full Rate Rise
Macquarie, the Commonwealth, the NAB and the ANZ have followed Westpac in announcing they would pass on the full 50 basis point RBA rate increase to their customers.
Read More“Big 4” Aussie Banks Steadily Becoming “Big 1+3”
The Commonwealth Bank seems to be slowly but surely drawing away from the NAB, Westpac and the ANZ – each of which seems powerless to close the inexorably widening gap.
Read MoreNAB – 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.
Read MoreNAB Continues Rebound with Higher Earnings, Payout
National Australia Bank has lifted cash earnings 4.1% in the six months to March 31 to $3.48 billion and boosted dividend to 73 cents a share from 67 cents a year ago.
Read MoreNAB 2.0 Continues its Metamorphosis
After being battered by the 2018 banking royal commission and losing numerous board members as sacrifices, the NAB seems to have forged a new path under new CEO Ross McEwan.
Read MoreNAB to Tighten Anti-Laundering Process
NAB said on Monday that it had entered into an Enforceable Undertaking with AUSTRAC after an investigation confirmed flaws in the bank’s compliance with money laundering laws.
Read MoreNAB – 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.
Read MoreBourse Discourse: JBH, NAB, SXL
Plenty of positive news from the Thursday ASX trading session, including these announcements from JB Hi-Fi, National Australia Bank and Southern Cross Media Group.
Read MoreNAB Double-Dips with Another Buyback
There were rumours around late last week that the National Australia Bank was planning to extend its current multi-billion-dollar buyback and Thursday it did just that. Kind of.
Read MoreNAB – Macquarie rates the stock as Outperform
The Outperform rating and $32.50 target for National Australia Bank are maintained.
Read MoreNAB – 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.
Read MoreNAB Keeps the Good Times Rolling for Banks
Investors gave a big thumbs up to the National Australia Bank’s first quarter trading update, even though the bank, like its peers, saw its net interest margin crimped.
Read MoreDiscourse from the Bourse: ADH, NAB
From the ASX on Thursday: Adairs has surprised with an $80 million plunge into the furniture market, while NAB’s acquisition of Citi’s Australian consumer banking businesses has met with ACCC approval.
Read MoreBig Four Banks Back to their Best
Tuesday’s solid full year result from the National Australia Bank concluded the strong recovery the big four have made from the pandemic damaged 2020 financial year.
Read MoreLike Peers, NAB Enjoys Rebound Year
For the year to September 30, the NAB says earnings bounced back strongly from 2020’s pandemic hit performance as lower bad and doubtful debt charges boosted returns.
Read MoreNAB – 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.
Read MoreNAB – Morgans rates the stock as Hold
Morgans retains its Hold rating and $27.50 target price after third quarter unaudited cash earnings of $1.70bn was announced.
Read MoreNAB Result Continues Good Run for Aussie Banks
National Australia Bank has reported a 10.3% rise in unaudited cash earnings to $1.70 billion for the three months to June – its first quarter.
Read MoreNAB – Morgans rates the stock as Hold
Due to recent share price strength the broker lowers its rating to Hold from Add and the $27.50 target price is unchanged.
Read MoreA Spot of Wheeling and Dealing Among the Banks
Opposite tacks for Westpac and NAB on Monday, with the former offloading its Australian life insurance business and the latter buying Citibank’s domestic consumer arm.
Read MoreNAB – Morgans rates the stock as Add
Morgans upgrades its rating to Add from Hold in light of recent share price weakness, and retains its $27.50 target price.
Read MoreNAB Joins ANZ on Buyback Track
Melbourne’s two Big Four banks – ANZ and now NAB – have beaten the Sydney-based Commonwealth and Westpac to the buyback club, with NAB’s $2.5 bn action trumping ANZ’s by $1 bn.
Read MoreTrouble Afoot for Three Casinos and a Big Bank
It was a very busy Monday for AUSTRAC, the country’s main financial intelligence group, which has launched separate investigations into four ASX-listed companies.
Read MoreNAB – Citi rates the stock as Neutral
Given the risk suggests limited upside, the broker retains Neutral and a $26.25 target.
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