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NAB, NATIONAL AUSTRALIA BANK LIMITED
blacksheep
post Posted: Nov 16 2017, 09:51 AM
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In Reply To: blacksheep's post @ Nov 15 2017, 06:22 PM

Buried on page 108 of NAB's annual report - looks like another disclosure issue!!

QUOTE
Last month NAB chief executive Andrew Thorburn did not mention "possible" AML/CTF issues when he fronted the House of Representatives economic committee, which was grilling bank bosses on the subject in the wake of the CBA legal action.

QUOTE
Earlier this month, NAB surprised the market by announcing a new $1.5 billion capital expenditure program on top of an existing $3 billion internal investment program.

Velocity Trade bank analyst Brett Le Mesurier said he was surprised by NAB dropping the news in its annual report.

"The bank shocked the market on results day when it unveiled the $1.5 billion program, including spending on technology to deal with AML and now we find in the annual report there are a number of 'issues' they are dealing with," Mr Le Mesurier said.

"The most troubling part is the outcome is 'uncertain', to quote the NAB.

"We hope the uncertain outcome doesn't result in additional costs of hundreds of millions of dollars above what has already been flagged."

AML/CTF compliance programs are notoriously expensive with industry talk about one of the Big Four banks splashing out about $500 million earlier this decade to hurriedly head off potential problems with AUSTRAC.

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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: Nov 15 2017, 06:22 PM
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NAB flags anti-money laundering 'weakness' - oops!

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National Australia Bank says it is investigating "issues" relating to its compliance with anti-money laundering and counter-terrorist financing laws, pointing to shortcomings in some transaction monitoring.

In its annual report, published on Tuesday, NAB included a contingent liability for potential costs from a project that has been in train since July last year to "strengthen" its program for complying with anti-money laundering and counter-terrorist financing laws.

http://www.theage.com.au/business/banking-...115-gzlwjc.html
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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 27 2017, 08:06 PM
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ANZ had settled earlier this week, now NAB - WBC to go.
OCTOBER 27 2017 - 8:19PM
NAB admits staff wrongdoing as it settles BBSW
Mathew Dunckley Sarah Danckert

QUOTE
National Australia Bank will pay a $50 million penalty and admit its staff broke the law by trying to rig a key market benchmark as part of an agreement with the corporate regulator to settle a landmark prosecution.

NAB announced late on Friday it had struck a deal with the Australian Securities and Investments Commission (ASIC) over allegations it had rigged the bank bill swap rate (BBSW).


read more - http://www.theage.com.au/business/banking-...027-gz9zva.html
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
 
mrbear
post Posted: Nov 4 2016, 09:32 PM
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In Reply To: early birds's post @ Nov 3 2016, 03:27 PM

Too much mandalay rum early birds,said many thanks,inle lake for a few days,lovely cottage over the water.
A really magnificent place in the world.
Poor old nab a bit sad ex div,cheers mrbear

 
early birds
post Posted: Nov 3 2016, 03:27 PM
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In Reply To: mrbear's post @ Nov 2 2016, 05:28 PM

hot balloon for bear?? mamameia ohmy.gif have good time there Mr. bear.

sold all my NAB holding at close. some of them are cash holding, most of them are CFD's , with some loss. sadsmiley02.gif
really think that nice divy can get punters going, but saw sellers relentlessly push this one down. a nasty trading for me!! weirdsmiley.gif




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mrbear
post Posted: Nov 2 2016, 05:28 PM
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In Reply To: balance's post @ Nov 2 2016, 02:50 PM

Hi balance,have just arrived in mandalay now after bagan.
We were here 2 years ago and the difference from then is amazing.
I have never seen a country advance in such a short time but there were road workers fixing the road today and they were heating the drums of tar over an open fire and they were spreading it with watering cans on the road so still very backward in a lot of ways,cheers mrbear

 


balance
post Posted: Nov 2 2016, 02:50 PM
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In Reply To: mrbear's post @ Nov 2 2016, 09:43 AM

Hi mr bear, ballooning in Myanmar?!

When we went there a long time ago we were lucky to see a bus less than WW2 vintage. A virtual time machine traveling there then.
I'm guessing you are in Pagan. Ballooning there would be spectacular. The temples are amazing.



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

Said 'Thanks' for this post: mrbear  
 
mrbear
post Posted: Nov 2 2016, 09:43 AM
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In Reply To: early birds's post @ Nov 2 2016, 09:14 AM

Nab is very good to me early birds that is how i can afford to be floating around in a ballon in myanmar now and it just keeps on trucking,cheers mrbear

 
early birds
post Posted: Nov 2 2016, 09:14 AM
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In Reply To: early birds's post @ Oct 31 2016, 08:59 AM

seems i will eat humble pie
one more day then x-divy at 4th



 
early birds
post Posted: Oct 31 2016, 08:59 AM
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In Reply To: nipper's post @ Oct 28 2016, 03:13 PM

X--divy datde is 4/11/2016-{this Friday]
99 cents ff witch yield at 7.09% at last close price.
now every man and his dog knew that they gonna cut it's divy next year. esp by 10%----so would be 89cents still around 6% yield at current price.
do the math
to me -----------

to me----anything under 28.00 for NAB before x-divy is a BUY BUY for a trading point of view.
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if market stable, think of 28.50 before Friday, if market goes up, 29 is posible. if market goes down then 28.28 at least before x-divy
so my focus for short term trading is NAB ----less risk for short term.



 
 


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