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NAB, NATIONAL AUSTRALIA BANK LIMITED
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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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.

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

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



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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: early birds  
 
ignoramus
post Posted: May 1 2018, 11:47 AM
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NAB seems to have suffered the least harm so far from the Royal Commission with AMP facing a horror story that has been in the works since near the beginning of their demutualisation. NAB will hopefully, from my prospective, rebound and move up to above $30 a share. NAB is now trading at $29.35

 
ignoramus
post Posted: Apr 13 2018, 02:18 PM
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NAB has closed down 17 days out of the last 22 trading days. From $30.40 to a low of $28.47 today. Should have purchased some Put Warrants but never though it would drop so fast or as much.

 
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

 
 


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