Mr.
John Stewart BA, ACII, FCIB
Chief Executive Officer, Managing Director
Age: 57 Total Annual Compensation: A$4.1M
Mr.
Ahmed Fahour BEc (Hons), MBA, FAIM
Chief Executive Officer of Australia and Exec
Age: 42 Total Annual Compensation: A$3.3M
Mrs.
Lynne Peacock BA
Chief Executive Officer of United Kingdom,
Age: 53 Total Annual Compensation: A$2.9M
Mr.
John E. Hooper BSc Econ (Hons), MA
Executive General Manager of Institutional
Age: 46 Total Annual Compensation: A$2.1M
Mr.
Michael J. Ullmer BSc (Maths) (Hons), FCA, FAIBF, ASA
Deputy Group Chief Executive Officer, Finance
Age: 56 Total Annual Compensation: A$1.8M
LAST
YEAR 2007
John
M. Stewart
Chief Executive Officer, Managing Director,
Age: 56 Total Annual Compensation: $3.0M
Mr.
Ahmed Fahour
Chief Executive Officer of Australia, Exe
Total Annual Compensation: $2.4
Mrs
Lynne Peacock
Member of Group Executive Committee, Chief Ex
Age: 52 Total Annual Compensation: $2.1M
Mr.
John E. Hooper BSc Econ (Hons), MA
Executive General Manager of Institutional
Age: 45 Total Annual Compensation: $1.6M
Mr. Michael J. Ullmer BSc (Maths) (Hons), FCA, FAIBF,
ASA
Group Chief Financial Officer, Finance Direct
Age: 55 Total Annual Compensation: $1.4M
KEY
EXECUTIVES FOR NAB
Name Board Relationships Title Age
John M. Stewart 13 Relationships Chief Executive Officer,
Managing Director, Director, Member of Group Executive
Committee, Chief Executive Officer of National Australia
Bank of Europe and Managing Director of National Australia
Bank of Europe 56
Michael J. Ullmer BSc (Maths) (Hons), FCA, FAIBF, ASA
13 Relationships Group Chief Financial Officer, Finance
Director, Director of Risk, Executive Director and Member
of Group Executive Committee 55
Peter Leonard Thodey 7 Relationships Chief Executive Officer
of Bank of New Zealand and Member of Group Executive Committee
56
Lynne Peacock 10 Relationships Member of Group Executive
Committee, Chief Executive Officer of United Kingdom,
Chief Executive Officer Europe, Executive General Manager
of People & Culture and Executive Director of the
Banks Uk & Ireland Operations 52
Ahmed Fahour 13 Relationships Chief Executive Officer
of Australia, Executive Director and Member of Group Executive
Committee --
John E. Hooper BSc Econ (Hons), MA No Relationships Executive
General Manager of Institutional Markets & Services,
Head the Banks Global Institutional Business, Member of
Group Executive Committee and Chief Executive Officer
of Nabcapital 45
Cameron Clyne B.A. 7 Relationships Executive General Manager
of Group Development and Member of Group Executive Committee
38
Peter Coad No Relationships General Manager of the Markets
Division, Managing Director of Nabcapital and Head of
Global Markets of Nabcapital --
Joseph Healy 10 Relationships Regional General Manager,
Corporate and Private Banking --
View More Key Executives
NAB
BOARD OF DIRECTOR
Name Board Relationships Primary Company Age
Michael Chaney 23 Relationships National Australia Bank
Limited 55
John M. Stewart 13 Relationships National Australia Bank
Limited 56
Geoffrey Allan Tomlinson B Econ 35 Relationships Programmed
Maintenance Services Ltd. 56
T. Kerry McDonald 19 Relationships OceanaGold Corporation
65
G. Malcolm Williamson 72 Relationships Resolution Plc
66
View
All Board Members
NAB EXECUTIVE COMMITTEES
Committee Name Chairperson Board Relationships Members
Audit Committee John Thorn FCA 29 Relationships 4 Executives
Compensation Committee Peter Duncan Be(hons) 28 Relationships
3 Executives
Nominating Committee Michael Chaney 23 Relationships 10
Executives
Audit
Committee
Name (Board Relationships)/Title Key Developments
T. McDonald 19 Relationships
Non-Executive
Director, Member of Nomination Committee, Member of Audit
Committee and Chairman of Bank of New Zealand
John Thorn FCA 29 Relationships
Independent
Non-Executive Director, Chairman of Audit Committee, Member
of Human Resources Committee, Member of Risk Committee
and Member of Nomination Committee
Paul Rizzo BCom, MBA 20 Relationships
Non
Executive Director, Chairman of Risk Committee, Member
of Audit Committee and Member of Nomination Committee
Daniel Gilbert LLB 13 Relationships
Non
Executive Director, Member of Audit Committee and Member
of Nomination Committee Australian Securities and Investments
Commission Expects to Release the Results of Investigation
into the Rogue Trading Scandal at National Australia Bank
11/29/04
National Australia Bank Ltd. Reports Revised Earnings
Results for the Six Months to March 2005
05/8/06
National Australia Bank Ltd. Selects Ernst & Young
as New External Auditor
07/19/04
SEC Asks National Australia Bank to Supply More Information
Regarding Some Non Audit Services Provided by KPMG
02/27/04
COMPENSATION
COMMITTEE
Name (Board Relationships)/Title NAB Compensation vs.
Industry
Peter Duncan Be(hons) 28 Relationships
Independent
Non-Executive Director, Chairman of Remuneration Committee
and Member of Nomination Committee
Jillian Segal 24 Relationships
Non
Executive Director, Member of Nomination Committee, Member
of Remuneration Committee and Member of Human Resources
Committee
Geoffrey Tomlinson B Econ 35 Relationships
Independent
Non-Executive Director, Chairman of Human Resources Committee,
Member of Remuneration Committee, Member of Nomination
Committee and Chairman of National Wealth Management Holdings
Limited Key Position Industry Range
Chief Executive Officer 31.03.9M
Chief Financial Officer 9.3K2.2M
52 Week Price Performance
NABIndustry
Average
Nominating
Committee*
Name (Board Relationships)/Title Key Developments
Michael Chaney 23 Relationships
Chairman
and Chairman of Nomination Committee
Geoffrey Tomlinson B Econ 35 Relationships
Independent
Non-Executive Director, Chairman of Human Resources Committee,
Member of Remuneration Committee, Member of Nomination
Committee and Chairman of National Wealth Management Holdings
Limited
T. McDonald 19 Relationships
Non-Executive
Director, Member of Nomination Committee, Member of Audit
Committee and Chairman of Bank of New Zealand
G. Williamson 72 Relationships
Director,
Member of Nomination Committee and Chairman of European
Group
Peter Duncan Be(hons) 28 Relationships
Independent
Non-Executive Director, Chairman of Remuneration Committee
and Member of Nomination Committee
John Thorn FCA 29 Relationships
Independent
Non-Executive Director, Chairman of Audit Committee, Member
of Human Resources Committee, Member of Risk Committee
and Member of Nomination Committee
Paul Rizzo BCom, MBA 20 Relationships
Non
Executive Director, Chairman of Risk Committee, Member
of Audit Committee and Member of Nomination Committee
Daniel Gilbert LLB 13 Relationships
Non
Executive Director, Member of Audit Committee and Member
of Nomination Committee
Jillian Segal 24 Relationships
Non
Executive Director, Member of Nomination Committee, Member
of Remuneration Committee and Member of Human Resources
Committee
Patricia Cross BSc (Hons), FAICD, FAIM 37 Relationships
Non-Executive
Director, Member of Risk Committee and Member of Nomination
Committee National Australia Bank Limited Appoints Mark
Joiner to the New Role of Group Executive General Manager
Development and New Business
04/5/07
National Australia Bank Limited Appoints Peter Thodey
as Group Executive General Manager
01/12/07
National Australia Bank Promotes Dennis Wharton to Executive
Vice President of Media Relations
08/15/06
Robert Elstone to Retire from the Board of National Australia
Bank Ltd
06/30/06
Robert Elstone to Retire as Non Executive Director of
National Australia Bank Ltd
06/15/06
Executive
Committee
Name (Board Relationships)/Title Management Effectiveness
Relative to the Industry
Ahmed Fahour 13 Relationships
Chief
Executive Officer of Australia, Executive Director and
Member of Group Executive Committee
John Stewart 13 Relationships
Chief
Executive Officer, Managing Director, Director, Member
of Group Executive Committee, Chief Executive Officer
of National Australia Bank of Europe and Managing Director
of National Australia Bank of Europe
Michael Ullmer BSc (Maths) (Hons), FCA, FAIBF, ASA 13
Relationships
Group
Chief Financial Officer, Finance Director, Director of
Risk, Executive Director and Member of Group Executive
Committee Return on Equity 1.3x
Return on Assets 1.6x
Return on Total Capital -- Not Meaningful
TEV/Total Revenue(LTM) NM Not Meaningful
NAB
PROFILE
500 Bourke Street Level 34 Melbourne, VIC 3000 Australia
Key
developments
National Australia Bank Limited Announces Closure of Branch
in Macquarie St, Hobart
02/29/2008
National Australia Bank Limited confirmed that it will
close the branch in Macquarie St, Hobart on March 28.
A drop in customer numbers, and concern about some ocupation
health and safety issues, prompted the decision.
National
Australia Bank Eyeing Acquisition In US
02/27/2008
National Australia Bank Limited may consider buying a
bank that serves farmers in the U.S. Northwest, Chief
Executive Officer John Stewart said. Potential targets
could include banks that serve large, efficient farming
communities that don't rely on government subsidies, such
as in the nation's northwest, Stewart said. He didn't
identify specific targets.
UTI
AMC Shortlists Investors For Pre IPO Placement
02/23/2008
Mint reported that UTI Asset Management Company (P) Ltd.
(UTI AMC) has shortlisted nine investors including The
Blackstone Group LP., Goldman Sachs Group Inc., Shinsei
Bank Ltd, National Australia Bank Ltd, the Bank of New
York Mellon Corp. and Sequoia Capital for selling more
than 11% of its equity ahead of an initial public offering
(IPO) of its shares. Two sovereign funds from West Asia
and a Belgian Bank are also in the race. People familiar
with the development who did not wish to be identified
said that UTI AMC will finalize a few investors from this
list and will place 16 million shares or 11.35% of its
equity. They added that none of the investors will be
offered more than 5% of stake.
National
Australia Bank Limited provides a range of financial products
and services primarily in Australia, New Zealand, and
the United Kingdom. It provides banking and wealth management
products and services, as well as lending and deposit
taking, cards, custody, and other transactional banking
services to businesses and high net worth individuals.
The company’s deposit products include on-demand
and short-term deposits, certificates of deposit, and
term deposits. Its loan portfolio comprises housing loans,
lease financing, real estate construction loans, real
estate mortgage loans, installment loans to individuals,
and personal loans, as well as loans for manufacturing,
agriculture, forestry, fishing, and mining industries.
National Australia Bank offers wealth management services,
such as investment, superannuation, and insurance solutions
to retail and corporate customers. In addition, it provides
debt financing, financial risk management, and investor
services; foreign exchange, money market, commodities,
and derivatives products; and structured finance products.
In addition, the company offers various tools and support
services to financial planners and mortgage brokers, including
practice management support and financial planning software.
National Australia Bank operates approximately 85 integrated
financial service centers, 186 business banking centers,
110 agribusiness locations, 27 private banking suites,
and 787 branches and agencies in Australia; 343 branches,
74 financial solutions centers, and 921 automated teller
machines (ATMs) in the United Kingdom; and 180 outlets
and 402 ATMs in New Zealand.
It
provides financial products and services to approximately
7.7 million retail and business banking customers and
approximately 2.3 million wealth management customers.
The company was founded in 1834 and is headquartered in
Melbourne, Australia.
On
Saturday 16 June 2007, NAB is making a number of changes
to offer
you greater functionality while you bank online.
So
what are the changes?
-Primary
credit cardholders can now apply for a credit card limit
increase via Internet Banking. Simply select 'credit card
limit
increase' from the 'apply now' menu.
-In
response to customer feedback, you'll now have full control
of
your Internet Banking message list. Select 'message list'
under
the 'contact us' menu, which will allow you to manage
your
messages including selecting and deleting your messages
whenever
you like.
-Do
you need a copy of your account statement? You can now
order
copies of your statements online and have them mailed
to you.
Simply select 'Re-order statement' from the 'account info'
menu.
To find out more about these new features and other NAB
Internet
Banking features please visit www.nab.com.au/internetbanking
This
message does not apply to customers who have registered
with
SMS payment security.
Further
to the secure message sent on 16 March 07, please be advised
that from mid July internet banking funds transfers to
other
people's NAB accounts (not within your own linked profile)
will be
processed the next business day.
This
change in processing time will offer further protection
for
customers against e-fraud and assist NAB in stopping any
fraudulent transactions.
You
can continue to have these types of transfers processed
immediately by using NAB's free SMS Payment Security service
which
provides a whole extra layer of protection so you can
bank online
with extra peace of mind.
SMS
payment security works by instantly sending your mobile
phone
a unique security code via SMS to confirm your transaction.
Just
enter the code and you're done. So even if your ID and
password
fall into the wrong hands, funds cannot be transferred
without
your approval.
View a demo at nab.com.au/sms. To register call 1300 651
656 or
contact your banker.
This
change does not affect:
-Logging onto Internet Banking or viewing your account
information
-Funds transfers between your own linked accounts and
bill payments
-Customers without the ability to transfer funds to other
people's
accounts (pay anyone)
To
find out more, please visit nab.com.au/paymentchanges
The
National Australia Bank or nab (ASX: NAB, LSE: NAB, NYSE:
NAB, TYO: 8637 ) colloquially the National or the
NAB. The NAB is part of the NAB Group it is the largest
bank in Australia and 28th largest in the world.
Shares
Issued 1,628,608,788
Market
Capitalisation 62,044,438,538
Security Type Ordinary (1)
The
core business of the National Bank Group is organised
around three businesses units by region: Australia, UK/Europe
and New Zealand. These regional business units include
the retail bank, wealth management and business banking
services.
There
is another business unit called the Institutional Markets
& Services. This unit concentrates on debt, risk management
and investment products for institutional customers.
History
1858:
Alexander Gibb, a Melbourne gentleman, enlisted Andrew
Cruickshank, a local merchant and pastoralist, to
raise the capital to establish National Bank of Australasia
(NBA) with headquarters in Melbourne. Cruickshank
became NBA's first chairman and Gibbs left after being
passed over for the position of General Manager.
1858:
The bank opened a branch in South Australia.
1859:
NBA established a branch in Mauritius, but closed
it within a year.
1864:
NBA opened a branch in London to handle financing
and payment for Australian exports of wool, gold and
other commodities, and also imports to Australia.
NBA also opened its first branch in Tasmania.
1866:
NBA opened its first branch in Western Australia.
1885:
NBA opened its first branch New South Wales.
1893:
NBA was one of the many banks that closed its doors
during the banking crisis that year. It re-emerged
as a public limited company, incorporated on June
23, 1893.
1918:
The bank acquired Colonial Bank of Australasia (est.
1856), which brought additional branches in Victoria
and New South Wales. 1920:
NBA opened its first branch in Queensland.
1922: The bank acquired
Bank of Queensland (est. 1917), with its branches
in Queensland, New South Wales and Victoria.
1946:
NBA opened a representative office in Tokyo that it
upgraded to a branch in 1985. 1948:
The bank acquired the Queensland National Bank (est.
1872), with its branches in Queensland, New South
Wales and Victoria. The Bank of Queensland was the
result of the merger in 1917 of Royal Bank of Queensland
(est. 1886) and Bank of North Queensland (est. 1888).
1955: The bank acquired
Ballarat Banking Company (est. 1865) in Victoria.
1971: NBA opened a
branch in Singapore.
1973:
NBA opened a representative office and took a minority
interest in a merchant bank in Jakarta. It withdrew
from the merchant bank in 1984. 1974:
NBA opened a representative office in Hong Kong that
it upgraded to a branch in 1985. It also took a minority
position in a merchant bank in Kuala Lumpur from which
it withdrew in 1984. 1977:
NBA entered the US with a branch and an agency in
Los Angeles that it closed in 1993. 1978:
NBA and Mitsubishi Bank and Trust established a 50-50
joint venture merchant bank in Hong Kong, but withdrew
in 1984. 1981:
NBA merged with the Commercial Banking Company of
Sydney to form National Australia Bank (NAB).
1982: NAB opened a
branch in Chicago and a representative office in Beijing.
1983:
NAB opened a representative office in Dallas and another
in Seoul that it upgraded to branch in 1990.
1984: NAB opened a
representative office in San Francisco, another in
Kuala Lumpur, and a third in Athens that it closed
in 1989. 1985:
NAB opened a representative office in Frankfurt that
it closed in 1992.
1986:
NAB opened a representative office in Atlanta, another
in Bangkok, and a third in Taipei that it upgraded
to a branch in 1990. 1987:
NAB bought Clydesdale Bank (Scotland) and Northern
Bank (Northern Ireland and Republic of Ireland) from
Midland Bank. It then rebranded Northern Bank branches
in the Republic of Ireland to National Irish Bank
and changed both banks' logos from that of the Midland
Bank.
1988:
NAB opened a representative office in Shanghai that
it closed in 1990.
1989:
NAB opened a representative office in Houston and
another in New Delhi. 1990:
NAB bought Yorkshire Bank (England and Wales).
1991: NAB rationalised
its operations in the US and closed its offices in
Atlanta, Chicago, Dallas, Houston, and San Francisco.
1992: NAB bought Bank
of New Zealand, which at the time had about a 26%
market share in the New Zealand market.
1995: NAB bought Michigan
National Bank (MNB).
1996:
NAB launched it's customer facing website in Australia
- www.national.com.au
1997: NAB bought HomeSide
Lending(see Washington Mutual), a leading US
mortgage originator and servicer based in Florida.
2000: NAB sold Michigan
National Bank to ABN AMRO. 2000:
NAB acquires MLC in June 2000 for $4.56bn - one of
the biggest mergers in Australian corporate history.
2001: NAB sold HomeSide’s
operating assets for US$1.9b to Washington Mutual,
the largest US savings and loan company, as well as
the mortgage unit's loan-servicing technology and
operating platform. NAB booked two write-downs associated
with the US subsidiary, HomeSide.
First,
in July 2001, NAB had a $450 million write down of
the value of its capitalised mortgage servicing rights
(CMSRs) during the quarter ending June 30, 2001, and
was the result of exceptionally high mortgage refinance
volumes which lowered the value of the CMSRs, combined
with a more challenging capital markets environment
in which to hedge interest rate risk.
This
was followed shortly by a second write-down reported
in September totalling $1.75 billion; this second
write-down consisted of US$400 million from an incorrect
interest rate assumption embedded in the mortgage
servicing rights valuation model, US$760 million from
changed assumptions in the model flowing from the
continued unprecedented uncertainty and turbulence
in the mortgage servicing market, and US$590 million
from writing off of the goodwill. In total, NAB booked
$2.2 billion in losses due to HomeSide.
2004:
National@Docklands
new flagship development officially opened at Melbourne
Docklands. 2004:
AU$360 million foreign currency options losses are
followed by the resignations of the CEO and Chairman
of the Board. Investigations by Price Waterhouse Coopers
and the Australian Prudential Regulation Authority
highlight a need for cultural change.
2004: Ahmed Fahour
appointed new CEO of Australia.
Fahour
proceeds to replenish the NAB's executive ranks with
top rate talent from the industry. 2005:
NAB sold Northern Bank and National Irish Bank to
the Danish Danske Bank. 2005:
The
bank is forced, by Australian Banking and Financial
Services Ombudsman Colin Neave, to investigate complaints
of overcharging. The result of this investigation
is that the bank repays customer in excess of 80 million
dollars. 2006:
After recent controversies, the bank refreshes its
image, cleaning up its older logo, and calling itself
the 'NAB' (read as one word, not spelt). Continues
major AFL sponsorship with added naming rights for
AFL Auskick. 2006:
NAB wins coveted "Bank of the Year" award of Money
Magazine.
Security
Group: Equities
52 Week High 40.5300 52 Week Low 31.3200
First Listed: 01 Jan 1974 First Traded: 01 Jan 1974
Issuer Type: Industrial(I) Net Tangible Assets: 1191.0
Dividend
per Share: 1.6600
Earnings per Share: +2.5190
Ex-Dividend Date: 21-Nov-2005
Dividend Payable Date: 19-Dec-2005
Dividend Amount: 0.83
Dividend Franked Percentage: 80.00%
Dividend Type: Final (F)
Balance
Sheet: Quarterly Financials for
All
amounts in millions of USD except per share amounts.
PE
Ratio - LTM 17.4
Market Capitalisation 54,674.5 mil
Latest Shares Outstanding 321.1 mil
Earnings pS (EPS) 9.76 $
Dividend pS (DPS) 6.20 ¢
Dividend Yield 4.3 %
Dividend Payout Ratio 64 %
Revenue per Employee 628,444 $
Effective Tax Rate 29.3 %
Float 0.0 mil
Float as % of Shares Outstanding 0.0 %
Foreign Sales 0 mil
Domestic Sales 0 mil
Selling, General & Adm/tive (SG&A) as % of Revenue
0.00 %
Research & Devlopment (R&D) as % of Revenue 0.00
%
Gross Profit Margin 0.0 %
EBITDA Margin 74.5 %
Pre-Tax Profit Margin 22.5 %
Assets Turnover 0.1 %
Return on Assets (ROA) 0.8 %
Return on Equity (ROE) 14.9 %
Return on Capital Invested (ROCI) 4.6 %
Current Ratio 0.0
Leverage Ratio (Assets/Equity) 18.7
Interest Cover 0.0
Total Debt/Equity (Gearing Ratio) 4.13
LT Debt/Total Capital 67.0 %
Working Capital pS 0.00 $
Cash pS 0.00 $
Book-Value pS 68.66 $
Tangible Book-Value pS 55.39 $
Cash Flow pS 10.20 $
Free Cash Flow pS -29.79 $
KEY FIGURES (LTM): Price info
Price/Book Ratio 2.48
Price/Tangible Book Ratio 3.07
Price/Cash Flow 16.7
Price/Free Cash Flow -5.7
P/E as % of Industry Group 136.0 %
P/E as % of Sector Segment 147.0 %
Balance Sheet (at a glance) in Millions
DIVIDEND INFO
Type of Payment Cash Payment
Dividend Rate 7.25
Current Dividend Yield 4.3
5-Y Average Dividend Yield 4.3
Payout Ratio 64.0
5-Y Average Payout Ratio 59.0
VALUATION RATIOS
MULTIPLES
PQ Ratio 4.41
Tobin's Q Ratio 0.16
Current P/E Ratio - LTM 17.40
Enterprise Value (EV)/EBITDA 0.05
Enterprise Value (EV)/Free Cash Flow -27.62
Dividend Yield 4.3
Price/Tangible Book Ratio - LTM 3.07
Price/Book Ratio - LTM 2.48
Price/Cash Flow Ratio 16.7
Price/Free Cash Flow Ratio - LTM -5.7
P/E Ratio (1 month ago) - LTM 18.2
P/E Ratio (26 weeks ago) - LTM 15.9
P/E Ratio (52 weeks ago) - LTM 28.4
5-Y High P/E Ratio 19.2
5-Y Low P/E Ratio 10.3
5-Y Average P/E Ratio 14.0
Current P/E Ratio as % of 5-Y Average P/E 124
P/E as % of Industry Group 136.0
P/E as % of Sector Segment 147.0
Current 12 Month Normalized P/E Ratio - LTM 17.4
PER SHARE FIGURES
Tangible Book Value pS - LTM 55.39
Book Value pS - LTM 68.66
Capital Invested pS 220.79
Cash Flow pS - LTM 10.20
Free Cash Flow pS - LTM -29.79
Earnings pS (EPS) 9.76
OPERATING RATIOS
PROFITABILITY
Return on Equity (ROE) 17.01
Return on Equity (ROE) - 5YEAR AVRG. 15.6
Return on Capital Invested (ROCI) 4.62
Return on Capital Invested (ROCI) - 5YEAR AVRG. 6.0
Return on Assets (ROA) 0.91
Return on Assets (ROA) - 5YEAR AVRG. 0.9
EBIT Margin - LTM 74.5
EBITDA Margin - LTM 74.5
Pre-Tax Profit Margin 83.76
Pre-Tax Profit Margin - 5YEAR AVRG. 81.34
Net Profit Margin 50.56
Net Profit Margin - 5YEAR AVRG. 50.62
Effective Tax Rate 29.33
Effective Tax Rate - 5YEAR AVRG. 25.04
EFFICIENCY RATIOS
Revenue per Employee - LTM 628,444
Net Income per Employee - LTM 85,213
Assets/Revenue - LTM 1,000.00
Assets/Revenue - 5YEAR AVRG. 5,561.46
BBVA
Likely Buyer For Northern Rock
09/17/2007
According to an un-sourced report in The Telegraph, Banco
Bilbao Vizcaya Argentaria SA may be looking to bid for
Northern Rock Plc. The paper cited Barclays Plc, Royal
Bank of Scotland, Lloyds TSB, Credit Agricole and National
Australia Bank as other possible bidders.
National
Australia Bank Limited Launches New Service
09/7/2007
National Australia Bank Limited announced that it has
launched a new specialist 'bank within a bank' business
service - NAB Health - in Adelaide. The new service would
tap part of the $9 billion Australian healthcare sector,
growing at $9 billion a year. The Australian bank also
announced that it would target almost half of South Africa's
$6.3 billion healthcare sector in the next three years
with the new service. Aged-care and pharmacy customers
were the top targets in SA along with medical, veterinary
and allied health practitioners.
Telstra,
Nab and Visa to Develop an Australian First Smart Mobile
Phone
08/30/2007
Telstra Corp. Ltd., NAB and VISA U.S.A. Inc. intend to
develop Australia's first trial allowing customers to
pay for goods and services with a wave of their mobile
phone. The trial will see a select number of Telstra and
NAB customers supplied with a smart mobile phone specifically
enabled to allow them to pay for goods or services with
Visa. The phone will be embedded with contactless near
field communications (NFC) technology, with the SIM card
loaded with a NAB Visa card application. NAB customers
would then be able to make a payment simply by waving
their Telstra mobile phone over a merchant's contactless
reader.
NAB
Might Acquire Alliance & Leicester
06/08/2007
National Australia Bank Limited's (NAB) 10-year search
for a merger partner in Britain may be nearing a decisive
moment, with the value of potential target banks falling
to their lowest levels in more than a decade. Rumors are
mounting in local investment circles that NAB may be eyeing
Alliance & Leicester. Other acquisition opportunities
for NAB in the British market include second-tier banks
such as Northern Rock and Bradford & Bingley. JP Morgan
analyst Brian Johnson believes NAB would probably have
to raise $12.9 billion in capital to fund a cash acquisition
of A&L and is nervous about that prospect.
Update
to National Australia Bank Limited’s Equity Buyback
on June 28, 2007
06/08/2007
The Board of Directors of National Australia Bank Ltd.
(ASX: NAB) authorized an AUD 500 million share repurchase
program on November 3, 2006. Under the program, the company
will repurchase shares on the open market during the period
including and up to March 31, 2007. The repurchase program
is a part of the Company's capital management activities.
UBS AG will purchase shares on the company's behalf. On
November 6, 2006, National Australia Bank Ltd. announced
that UBS would, as the company's broker, repurchase up
to AUD 65 million worth of NAB shares under the buyback
plan announced on November 3, 2006. Purchases will commence
on November 6, 2006 and end on November 9, 2006. On November
27, 2006, National Australia Bank announced that Goldman
Sachs JBWere Pty Ltd. will also act as the broker to the
company for this transaction. Also, on any single day
either UBS or Goldman Sachs will be acting. On January
31, 2007, National Australia Bank increased the amount
to be repurchased under the program by AUD 700 million
thereby extending the new limit to repurchase a total
of up to AUD 1.20 billion worth of shares. The shares
will be repurchased till September 30, 2007. As of June
28, 2007, National Australian has repurchased 29,130,711
shares for an aggregate value of AUD 1.19 billion under
the program.
Update
to National Australia Bank limited’s Equity Buyback
on June 25, 2007
26/07/2007
The Board of Directors of National Australia Bank Ltd.
(ASX: NAB) authorized an AUD 500 million share repurchase
program on November 3, 2006. Under the program, the company
will repurchase shares on the open market during the period
including and up to March 31, 2007. The repurchase program
is a part of the Company's capital management activities.
UBS AG will purchase shares on the company's behalf. On
November 6, 2006, National Australia Bank Ltd. announced
that UBS would, as the company's broker, repurchase up
to AUD 65 million worth of NAB shares under the buyback
plan announced on November 3, 2006. Purchases will commence
on November 6, 2006 and end on November 9, 2006. On November
27, 2006, National Australia Bank announced that Goldman
Sachs JBWere Pty Ltd. will also act as the broker to the
company for this transaction. Also, on any single day
either UBS or Goldman Sachs will be acting. On January
31, 2007, National Australia Bank increased the amount
to be repurchased under the program by AUD 700 million
thereby extending the new limit to repurchase a total
of up to AUD 1.20 billion worth of shares. The shares
will be repurchased till September 30, 2007. As of June
22, 2007, National Australian has repurchased 27,529,830
shares for an aggregate value of AUD 1.12 billion under
the program.
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