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National Australia Bank Ltd (NAB.AX)

NAB.AX on Australia Stock Exchange

29.73AUD
26 May 2017
Change (% chg)

$-0.13 (-0.44%)
Prev Close
$29.86
Open
$29.87
Day's High
$29.94
Day's Low
$29.68
Volume
6,105,419
Avg. Vol
5,366,494
52-wk High
$34.09
52-wk Low
$23.90

Latest Key Developments (Source: Significant Developments)

National Australia Bank updates on impact of bank tax levy
Monday, 22 May 2017 03:30am EDT 

May 22 (Reuters) - National Australia Bank Ltd ::Asx alert-open letter to shareholders on major bank tax-nab.ax.Tax (from bank levy) could cost NAB approximately $350 million annually, or $245 million post tax."Actual cost will not be known until final legislation for tax has been passed and we can fully assess impact on NAB's business"."NAB will continue to strongly object to this tax"."No decisions have been made on how we will seek to manage cost of this new tax".  Full Article

OCBC Bank to acquire National Australia Bank's private wealth business in Singapore and Hong Kong
Wednesday, 10 May 2017 10:30pm EDT 

May 11 (Reuters) - Oversea-Chinese Banking Corporation Limited :OCBC Bank to acquire National Australia Bank's private wealth business in Singapore and Hong Kong.entered into an agreement to acquire National Australia Bank's private wealth business in Singapore and Hong Kong.Purchase consideration will be at around book value.business will be earnings accretive to ocbc bank within first year of completion..Transaction, expected to be completed before end of year subject to regulatory approval.addition of us$1.7 billion (s$2.39 billion) of mortgage loans will increase overall size of ocbc bank's mortgage portfolio by about 4 per cent.transaction is not expected to have a material impact on OCBC Bank's capital position.OCBC Bank will immediately derive interest income from acquired mortgage loans upon completion.more than half of mortgage loans are booked in hong kong and will be transferred to OCBC Wing Hang in Hong Kong.remaining mortgage loans, booked in singapore, will be transferred to ocbc bank..  Full Article

National Australia Bank says currently uncertain about impact of govt levy on bank
Wednesday, 10 May 2017 02:45am EDT 

May 10 (Reuters) - National Australia Bank Ltd :2017 - 2018 federal budget bank levy.At this point in time, it is uncertain what financial impact of levy will be on NAB.  Full Article

National Australia Bank says for HY net interest income was $6.393 bln
Wednesday, 3 May 2017 06:37pm EDT 

May 4 (Reuters) - National Australia Bank Ltd :Hy group net interest margin 1.82 percent versus 1.93 percent a year ago.HY net interest income $6.393 billion versus $6.60 billion.  Full Article

National Australia Bank posts HY cash earnings of $3.29 billion
Wednesday, 3 May 2017 06:35pm EDT 

May 4 (Reuters) - National Australia Bank Ltd :HY cash earnings of $3.29 billion, up 2.3%.HY total charge for bad and doubtful debts (b&dds) was $394 million, up $19 million or 5.1%.HY on a statutory basis, net profit attributable was $2.55 billion compared to a loss of $1.74 billion for march 2016 half year.Interim dividend unchanged at 99 cents per share fully franked."Group's CET1 target ratio remains between 8.75% - 9.25%".On a cash earnings basis HY revenue increased 1.8 percent.CET1 ratio was 10.1 percent as at 31 March 2017."Operating environment for banks remains challenging".  Full Article

National Australia Bank revises comparative financial information following organisational restructure
Thursday, 20 Apr 2017 04:30pm EDT 

April 21 (Reuters) - National Australia Bank Ltd :group has changed its reporting to align to customer segments.NAB will report results for the half year ended 31 march 2017 on 4 May 2017.there is no change to group level financial information reported for the prior financial periods as a result of the organisational realignment.change has resulted in 3 new australian reportable segments -business & private banking, consumer banking & wealth management,corporate & institutional banking.  Full Article

National Australia Bank announces plans to redeem subordinate notes
Wednesday, 19 Apr 2017 08:05pm EDT 

April 20 (Reuters) - National Australia Bank Ltd :Nab has elected to redeem all outstanding nsn in accordance with their terms.NSN will be redeemed on monday, 19 june 2017, being their first optional redemption date.NSN were issued by nab in 2012 and trade on asx under code 'nabhb'.For each NSN held nsn holders will receive a cash payment of $100 plus $1.1331 interest.$633,692,300 of nsn (representing 6,336,923 nsn at $100 each) is currently outstanding..  Full Article

National Australia Bank says offer of subordinated notes 2 completed
Sunday, 19 Mar 2017 08:58pm EDT 

National Australia Bank Ltd : Announces that offer of NAB subordinated notes 2 has been successfully completed . NAB subordinated notes 2 are expected to commence trading on asx on deferred settlement basis Tuesday 21 March 2017 .Issued 9.4 million NAB subordinated notes 2 at $100 each raising $943.2 million.  Full Article

National Australia Bank increases NAB subordinated notes 2 offer to $800 mln
Monday, 13 Feb 2017 03:07am EST 

National Australia Bank Ltd : Increases NAB subordinated notes 2 offer to $800 million and sets margin at 2.20% .Offer opens on Thursday 16 February 2017.  Full Article

National Australia Bank launches subordinated notes 2 offer
Tuesday, 7 Feb 2017 05:06pm EST 

National Australia Bank Ltd : NAB launches NAB subordinated notes 2 offer . Each nab subordinated note 2 will have a face value of $100 . Offer is expected to raise approximately $750 million . Once issued, NAB subordinated notes 2 will qualify as tier 2 capital for group . Each NAB subordinated note 2 will have an expected margin in range of 2.20 pct to 2.30 pct per annum over three month bank bill rate .NAB will use net proceeds of offer to refinance NAB subordinated notes issued by NAB on 18 June 2012.  Full Article

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