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NAB, NATIONAL AUSTRALIA BANK LIMITED
early birds
post Posted: May 2 2019, 05:58 PM
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In Reply To: nipper's post @ May 2 2019, 05:33 PM

if there is a bank for me to buy, it will be NAB. imho

their divy still better than ANZ and restructuring pain for NAB nearly over. only thing stopped me to buy it today, is that i think our property down term is far far from over. not sure why those "[rpperty guru" out in force again. unsure.gif don't think it is right time for them to ramping housing market again. anyway, it's just me nipper. i'm really bearish with housing market.



 
nipper
post Posted: May 2 2019, 05:33 PM
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Posts: 5,484
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QUOTE
NAB's interim dividend cut has been welcomed by investors as a prudent measure that will allow the troubled bank to pay even more compensation to duped customers while maintaining an “unquestionably strong” capital buffer.

NAB's first-half cash earnings of $2.95 billion, up 7.1 per cent on the previous half and hitting expectations, came with a 16.2 per cent reduction in the interim payout per share to 83¢, from 99¢. This follows surging customer compensation bills after the Hayne inquiry, and is the first time NAB has cut its dividend in five years.

“We recognise the importance of the dividend to our 600,000 shareholders, but we’ve felt the need to rebase [it], to provide greater flexibility to accommodate any potential future headwinds, including any further customer remediation that may be required,” acting chief executive and incoming chairman Philip Chronican said.

To show some accountability for failings exposed by the Hayne inquiry, NAB's senior executive leadership team have forfeited deferred pay of $5.5 million, and NAB board members will have fees reduced by 20 per cent.

With former CEO Andrew Thorburn giving up $21 million in unvested bonuses after resigning over a scathing royal commission report, Mr Chronican said he was keen to make a decision on a new CEO within the next five months.

NAB's dividend cut was one of several measures to shore up its balance sheet. NAB is also raising $1.8 billion in fresh capital, via a partially underwritten dividend reinvestment plan, in addition to $750 million of new equity raised over the half via convertible preference shares.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
blacksheep
post Posted: Feb 8 2019, 03:15 PM
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In Reply To: nipper's post @ Feb 8 2019, 03:07 PM

You're welcome. Thought it was a nice tribute to Henry. He had my respect, although I believe he didn't portray himself well at the RC - great pity, great loss to the industry and I'm sure if he had his time again he would have acted differently.



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Feb 8 2019, 03:07 PM
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In Reply To: blacksheep's post @ Feb 8 2019, 02:15 PM

Thank for sharing this.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Feb 8 2019, 02:15 PM
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In Reply To: blacksheep's post @ Feb 7 2019, 08:32 PM

John Hemptons thoughts on the resignations

A quick note on the resignations at the top of National Australia Bank
https://brontecapital.blogspot.com/2019/02/...f.html?spref=tw



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 
blacksheep
post Posted: Feb 7 2019, 08:32 PM
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Announced after market closed. Will be interesting to see how market reacts tomorrow

QUOTE
CEO and Chairman to leave NAB
National Australia Bank Chief Executive Officer Andrew Thorburn and Chairman Dr Ken Henry today advised
they would leave the bank.

The NAB Board will initiate a global search process for the CEO role while actively considering a range of
quality internal candidates.

Mr Thorburn will finish at NAB on 28 February 2019.

Dr Henry indicated he would retire from the Board once a new permanent CEO had been appointed.

The Board has asked Philip Chronican, a current NAB Director with extensive domestic banking experience,
to serve as acting CEO effective 1 March (subject to relevant regulatory approvals) until a permanent
appointment is made
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Total short positions as at 1/2/19 = 0.63%
https://www.shortman.com.au/stock?q=nab
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Oct 8 2018, 03:11 PM
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Schedule
Review of the Four Major Banks (Fourth Hearings)
PUBLIC HEARING
Thursday 11 October 2018
9.15 am Commonwealth Bank of Australia
1.15 pm Westpac

Friday 12 October 2018
9.15 am Australia and New Zealand Banking Group Limited

Friday 19 October 2018
9.15 am National Australia Bank

https://www.aph.gov.au/Parliamentary_Busine...Public_Hearings




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 15 2018, 10:27 PM
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In Reply To: blacksheep's post @ May 3 2018, 10:28 AM

QUOTE
Brokers unruffled by banking royal commission
Going by Bloomberg consensus recommendations, NAB is the most popular, with a consensus "buy" call, followed by ANZ (just shy of a buy), followed by Westpac with a solid "hold" rating. CBA ranks last of the four, barely scraping buy with a hold.


Wonder if the brokers are getting a little ruffled now biggrin.gif
Banking royal commission releases ASIC report accusing NAB of breaking the law
QUOTE
The report carries a blunt warning that NAB's failings "demand a significant regulatory response".

http://www.abc.net.au/news/2018-08-15/bank...ection=business
https://www.shortman.com.au/stock?q=nab
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
rog
post Posted: May 3 2018, 07:04 PM
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In Reply To: blacksheep's post @ May 3 2018, 10:28 AM

I'm glad the banks are getting out of this nonsense, nothing worse than having to watch an obviously overweight CEO on the TV rambling on about "organic growth". All this vertical integration has been testing my vertigo.



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With money in your pocket you are wise, you are handsome, and you sing well too.

Said 'Thanks' for this post: ignoramus  blacksheep  
 
blacksheep
post Posted: May 3 2018, 10:28 AM
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Posts: 5,699
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NAB to offload wealth business MLC as profit slips
extract

QUOTE
National Australia Bank is set to offload its wealth business MLC, which includes financial advice, superannuation and funds management, as the major banks' exodus from the wealth sector continues.

In its half-year results Thursday, NAB said it was looking to sell the businesses by the end of 2019 through a sharemarket float and demerger, or possible trade sale. It will keep the JB Were and nabtrade businesses

NAB had already previously sold 80 per cent of its life insurance arm to Nippon Life.
NAB also reported first-half cash earnings of $3.3 billion, a 0.2 per cent decline compared with last year, excluding one-off restructuring costs. Cash profit fell 16 per cent when restructuring costs were included.

https://www.theage.com.au/

AFR article - Brokers unruffled by banking royal commission
QUOTE
Going by Bloomberg consensus recommendations, NAB is the most popular, with a consensus "buy" call, followed by ANZ (just shy of a buy), followed by Westpac with a solid "hold" rating. CBA ranks last of the four, barely scraping buy with a hold.

Attached Image


http://www.afr.com/markets/brokers-unruffl...20180502-h0zjns

https://www.shortman.com.au/stock?q=nab
SP currently down 1.52% @ $29.13



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


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