Edition:
India

National Australia Bank Ltd (NAB.AX)

NAB.AX on Australia Stock Exchange

26.70AUD
18 Jun 2019
Change (% chg)

$0.04 (+0.15%)
Prev Close
$26.66
Open
$26.71
Day's High
$26.75
Day's Low
$26.58
Volume
7,299,642
Avg. Vol
6,939,808
52-wk High
$29.00
52-wk Low
$22.52

Latest Key Developments (Source: Significant Developments)

NAB Issues A$1 Bln Subordinated Floating Rate Medium Term Notes Due May 2029
Friday, 17 May 2019 

May 17 (Reuters) - National Australia Bank Ltd ::ISSUES A$1 BILLION SUBORDINATED FLOATING RATE MEDIUM TERM NOTES DUE MAY 2029.  Full Article

NAB Announces Additional Costs Of A$525 Mln For Customer Remediation Matters
Thursday, 18 Apr 2019 

April 18 (Reuters) - National Australia Bank Ltd ::NAB ANNOUNCES ADDITIONAL COSTS FOR CUSTOMER REMEDIATION MATTERS.ADDITIONAL CHARGES OF $525 MILLION AFTER TAX IN CONNECTION WITH INCREASED PROVISIONS FOR ITS CUSTOMER-RELATED REMEDIATION PROGRAM.EXPECTED TO REDUCE 1H19 CASH EARNINGS BY AN ESTIMATED $325 MILLION AND EARNINGS FROM DISCONTINUED OPERATIONS BY AN ESTIMATED $200 MILLION.OF 1H19 CHARGES, APPROXIMATELY 91% ARE FOR WEALTH RELATED MATTERS, WITH REMAINDER FOR BANKING.SINCE JUNE 2018, CO MADE ABOUT 360,000 PAYMENTS TO CUSTOMERS WITH A TOTAL VALUE OF ABOUT $145 MILLION.THERE ARE NOW AROUND 350 PEOPLE DEDICATED TO REMEDIATING CUSTOMERS; WILL SOON HAVE AROUND 500 ACROSS NAB FOR THE PURPOSE.  Full Article

National Australia Bank Takes Action On Recommendations From Royal Commission
Friday, 15 Mar 2019 

March 15 (Reuters) - National Australia Bank Ltd ::NAB TAKES ACTION ON RECOMMENDATIONS FROM ROYAL COMMISSION.TO EXTEND PROTECTIONS OF CODE OF BANKING PRACTICE TO SMALL BUSINESSES WITH LESS THAN $5 MILLION IN BORROWINGS, FROM PREVIOUS LEVEL OF LESS THAN $3 MILLION.HAS ESTABLISHED A BOARD CUSTOMER COMMITTEE.  Full Article

National Australia Bank Says Philip Chronican Selected As Chairman
Wednesday, 6 Mar 2019 

March 6 (Reuters) - National Australia Bank Ltd ::PHILIP CHRONICAN SELECTED AS NEXT NAB CHAIRMAN.CHRONICAN'S APPOINTMENT WAS UNANIMOUSLY SUPPORTED BY DIRECTORS AT A SCHEDULED BOARD MEETING IN MELBOURNE.CHRONICAN TO REPLACE KEN HENRY AC AS CHAIRMAN LATER IN 2019.  Full Article

National Australia Bank Announces Capital Notes 3 Offer
Monday, 11 Feb 2019 

Feb 11 (Reuters) - National Australia Bank Ltd ::ANNOUNCED AN OFFER OF NAB CAPITAL NOTES 3, WHICH ARE EXPECTED TO BE QUOTED ON ASX.RESALE OF CPS WILL NOT IMPACT FINAL DIVIDEND OF $1.2976 PER CPS SCHEDULED TO BE PAID BY NAB ON 20 MARCH 2019.ONCE ALL CPS HAVE BEEN RESOLD TO NOMINATED PURCHASER ON 20 MARCH 2019, NAB INTENDS TO CONVERT UP TO $750M OF CPS INTO ORDINARY SHARES.NAB CAPITAL NOTES 3 DISTRIBUTIONS ARE EXPECTED TO BE FULLY FRANKED.  Full Article

National Australia Bank Says Chairman and CEO To Leave Bank
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - National Australia Bank Ltd ::ANDREW THORBURN RESIGNS AS CEO.CHAIRMAN KEN HENRY WILL LEAVE BANK.PHILIP CHRONICAN TO SERVE AS ACTING CEO EFFECTIVE 1 MARCH.BOARD WILL SEEK TO BRING ON NEW NON-EXECUTIVE DIRECTORS THIS YEAR.  Full Article

National Australia Bank Notes Royal Commission Final Report
Monday, 4 Feb 2019 

Feb 4 (Reuters) - National Australia Bank Ltd ::NAB RESPONDS TO ROYAL COMMISSION FINAL REPORT.NOTES FINAL REPORT OF ROYAL COMMISSION INTO BANKING, SUPERANNUATION, FINANCIAL SERVICES INDUSTRY AND GOVERNMENT'S RESPONSE.  Full Article

NAB's MLC Wealth Announces Price Changes Across Select Products
Tuesday, 29 Jan 2019 

Jan 29 (Reuters) - National Australia Bank Ltd ::MLC WEALTH ANNOUNCES SWEEPING PRICE CHANGES ACROSS ITS WRAP AND RETAIL MASTERKEY SUPER AND PENSION FUNDAMENTALS PRODUCT.MLC WEALTH'S PROPOSED PRICE CHANGES WILL DELIVER ADMINISTRATION FEE CUTS OF UP TO 50 PER CENT.FROM 4 FEB, ADMINISTRATION FEES FOR MLC’S RETAIL WRAP SERIES 2 PLATFORMS WILL BE HALVED TO 0.15% P.A. ON BALANCE BETWEEN $200,000 AND $500,000.ADMINISTRATION FEES FOR THE BALANCE ABOVE $500,000 WILL BE CUT 40 PER CENT TO 0.03 PER CENT P.A..  Full Article

CYBG Plc Says FY Underlying Profit Before Tax Rises 13 Pct To 331 Mln Pounds
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - CYBG Plc ::CLYDESDALE BANK PLC VIRGIN MONEY PLC VIRGIN MONEY HLDGS - FINAL RESULTS.UNDERLYING PROFIT BEFORE TAX UP 13 PCT YEAR-ON-YEAR TO 331 MLN POUNDS; STATUTORY LOSS AFTER TAX OF 145 MLN POUNDS DUE TO LEGACY PPI COSTS.NET INTEREST INCOME UP 1 PCT DRIVEN BY STRONG VOLUME GROWTH AND NIM OF 217 BPS, PARTLY OFFSET BY A 16 MLN POUNDS REDUCTION IN NON-INTEREST INCOME.RECOMMENDING PAYMENT OF AN INCREASED ORDINARY DIVIDEND OF 3.1P PER SHARE, PAYABLE TO ALL SHAREHOLDERS.CUSTOMER DEPOSIT GROWTH OF 4.2 PCT TO 28.9 BLN POUNDS; LOAN GROWTH OF 4.1 PCT TO 33.3 BLN - ABOVE SYSTEM LENDING GROWTH.CUSTOMER DEPOSIT GROWTH OF 4.2 PCT TO 28.9 BLN POUNDS AT YEAR-END.TOTAL PPI PROVISION DURING 2018 OF 352 MLN POUNDS (NET OF CONDUCT INDEMNITY) AND 44 MLN POUNDS FOR OTHER LEGACY CONDUCT.PRO FORMA CET1 RATIO OF 14.0 PCT AT 30-SEP-2018 INCLUDING C.350BPS CET1 IMPACT OF IRB ACCREDITATION.MORTGAGES UP 4.5 PCT TO 24.5 BLN POUNDS AND CORE SME UP 5.6 PCT TO 7.2 BLN.RECOMMENDING PAYMENT OF AN INCREASED ORDINARY DIVIDEND OF 3.1P PER SHARE."CLEARLY BREXIT NEGOTIATIONS MEAN THE EXTERNAL POLITICAL AND MACRO ECONOMIC ENVIRONMENT REMAINS INHERENTLY UNCERTAIN".FY NIM 2.17 PERCENT VERSUS 2.27 PERCENT REPORTED LAST YEAR.IMPOSSIBLE TO IGNORE LOWER LEVELS OF BUSINESS CONFIDENCE WHILE FINAL SPECIFIC OUTCOME OF BREXIT NEGOTIATIONS REMAINS UNCLEAR.WILL PARTICIPATE STRONGLY IN THE RBS ALTERNATIVE REMEDIES SCHEMES.  Full Article

Debbie Crosbie Will Step Down As Group COO of CYBG PLC
Monday, 19 Nov 2018 

Nov 19 (Reuters) - CYBG PLC ::CYBG PLC - DEBBIE CROSBIE HAS INFORMED BOARD OF COMPANY OF HER INTENTION TO STEP DOWN AS GROUP CHIEF OPERATING OFFICER.CYBG PLC - FRASER INGRAM, CURRENTLY INNOVATION AND CHANGE DIRECTOR, WILL BE APPOINTED TO ROLE OF COO IN AN INTERIM CAPACITY.CYBG PLC - PROCESS TO APPOINT DEBBIE'S SUCCESSOR WILL NOW COMMENCE.  Full Article

Australia's NAB hires UBS' Lachlan Shaw as commodity strategist

MELBOURNE, June 17 National Australia Bank (NAB) has hired Lachlan Shaw as a director and commodity strategist at its Melbourne office, an NAB spokesman confirmed on Monday.