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National Australia Bank Ltd (NAB.AX)

NAB.AX on Australia Stock Exchange

29.01AUD
7 Dec 2016
Change (% chg)

$0.31 (+1.08%)
Prev Close
$28.70
Open
$28.96
Day's High
$29.08
Day's Low
$28.87
Volume
3,977,186
Avg. Vol
5,324,493
52-wk High
$29.49
52-wk Low
$23.82

Latest Key Developments (Source: Significant Developments)

BRIEF-National Australia Bank says FY group NIM declined 2 basis points
Wednesday, 26 Oct 2016 05:54pm EDT 

National Australia Bank Ltd : Final dividend 99 cents per share fully franked, $2.63 billion declared . FY cash earnings were $6.48 billion, an increase of $261 million . FY net profit attributable to owners of company was $352 million, down 94.4 pct . FY charge for bad and doubtful debts (B&DDS) rose 7.0 pct to $800 million . FY Group net interest margin (NIM) declined 2 basis points mainly due to higher funding costs . FY excluding discontinued operations, statutory net profit decreased 5.6 pct to $6.42 billion . Group's common equity tier 1 (CET1) ratio was 9.8 pct as at 30 September 2016, an increase of 8 basis points ."Group's CET1 target ratio remains between 8.75 pct - 9.25 pct, based on current regulatory requirements".  Full Article

National Australia Bank revises comparative financial information following sale of 80 pct of life insurance business
Wednesday, 12 Oct 2016 05:32pm EDT 

National Australia Bank Ltd : NAB revised comparative financial information following sale of 80% of life insurance business . NAB will report results for period ended 30 september 2016 on 27 october 2016. .Life insurance components that were sold are classified as 'discontinued operations' for reporting period ended 30 september.  Full Article

National Australia Bank issues A$800 million subordinated notes
Tuesday, 20 Sep 2016 07:37pm EDT 

National Australia Bank Ltd : Issue of A$800 million subordinated notes . Issue of subordinated mtns by the issuer will not have a material impact on the issuer's financial position . Issue of A$150 million fixed rate subordinated medium term notes due 2026 .Issue of A$650 million floating rate subordinated medium term notes due 2026.  Full Article

National Australia Bank issues JPY 10 bln subordinated notes
Thursday, 15 Sep 2016 08:00pm EDT 

National Australia Bank Ltd : Pursuant to its us$100 bln global medium term note programme, co will issue JPY 10 bln subordinated notes due 2026 . Issue of jpy10bn subordinated notes . The issue of subordinated notes by the issuer will not have a material impact on the issuer's financial position .  Full Article

National Australia Bank says Bob Melrose permanently appointed Executive General Manager, Retail Banking
Wednesday, 31 Aug 2016 06:35pm EDT 

National Australia Bank Ltd : Update on executive appointments . Matt Lawrance has been appointed to acting Chief Technology & Operations Officer .Bob Melrose has been permanently appointed Executive General Manager, Retail Banking.  Full Article

National Australia Bank responds to BBSW U.S class action
Wednesday, 17 Aug 2016 11:47pm EDT 

National Australia Bank Ltd : NAB responds to BBSW U.S class action . Notes that a class action has commenced in the United States in relation to trading in the bank bill swap rate . Action names number of defendants, including NAB, and references proceedings brought by ASIC in relation to BBSW . "As we have stated previously, NAB does not agree with the claims by ASIC in relation to bbsw" .  Full Article

National Australia Bank says June-qtr statutory net profit about $1.6 bln
Sunday, 14 Aug 2016 05:38pm EDT 

National Australia Bank Ltd : Nab 2016 third quarter trading update . Says on statutory basis, unaudited net profit attributable to owners of company for June quarter was approximately $1.6 billion . Qtrly unaudited cash earnings for continuing operations were approximately $1.6 billion, down 3 percent . Group's common equity tier 1 (cet1) ratio was 9.5% at 30 June 2016 . Group's cet1 target ratio remains 8.75% - 9.25%, based on current regulatory requirements . Group's leverage ratio at 30 June 2016 was 4.9% on an apra basis . Charge for bad and doubtful debts for the quarter rose 21% to $228 million . June quarter, on cash earnings basis for continuing operations, revenue was broadly stable compared with quarterly average of March 2016 HY .  Full Article

National Australia Bank announces structure and executive leadership changes
Thursday, 21 Jul 2016 06:00pm EDT 

National Australia Bank Ltd : NAB announces structure and executive leadership changes . Three executive leadership team members Michaela Healey, Renee Roberts And Gavin Slater will leave . Says "NAB's financial reporting will be reviewed in light of the revised organisational structure" . Business banking becomes business & private banking . New customer facing business unit - corporate & institutional banking . Personal banking becomes consumer banking & wealth management . Enterprise services & transformation becomes technology & operations, will include operating functions of non-life wealth management business . Andrew will continue to drive sale process of life insurance business, remains on track for completion in H2 2016 . Risk function will also include legal and governance functions of group, led by David Gall as chief risk officer . The changes, which are subject to regulatory approval, are effective 1 August 2016" . Finance, people and bank of New Zealand units are largely unchanged " .  Full Article

National Australia Bank updates on S&P credit rating outlook
Thursday, 7 Jul 2016 05:02pm EDT 

National Australia Bank Ltd : Says S&P affirmed NAB's `AA-' long term and `A-1+' short term ratings and BNZ'S `AA-' long term and `A-1+' short term ratings . Notes S&P global ratings revised its rating outlook on commonwealth of australia to negative from stable . Source (http://bit.ly/29rjskb) ((For more news, please click here [NAB.AX])) ((Bengaluru Newsroom; +91 80 6749 1130)).  Full Article

National Australia Bank notes S&P's revised rating outlook on Commonwealth Of Australia
Thursday, 7 Jul 2016 03:49am EDT 

National Australia Bank Ltd : S&P credit rating outlook . Notes that S&P global ratings (S&P) revised its rating outlook on the Commonwealth Of Australia to negative from stable. .  Full Article

Fitch Affirms NAB's Mortgage Covered Bonds at 'AAA'; Outlook Stable

(The following statement was released by the rating agency) SYDNEY, November 17 (Fitch) Fitch Ratings has affirmed National Australia Bank Limited's (NAB, AA-/Stable/F1+) AUD21bn of outstanding mortgage covered bonds at 'AAA'. The Outlook is Stable. KEY RATING DRIVERS The rating is based on NAB's Long-Term Issuer Default Rating (IDR) of 'AA-', an IDR uplift of zero notches, a payment continuity uplift (PCU) of six notches, a recovery uplift of one-notch and the asset percentage (AP) of 91.5%