NAB cuts broker commissions
May 29, 2008
NAB will cut its mortgage broker commissions and introduce a gradually increasing trail fee in the expectation brokers develop longer-term clients.
National Australia Bank shares fall 10%
National Australia Bank shares have dropped 10 per cent after the bank announced an extra $830m loss on its exposure to US mortgage-backed debt securities.
National Australia Bank talking to Royal Bank of Scotland about buying local arm of ABN Amro
National Australia Bank Ltd., one of the country's biggest lenders, said Friday it is in consultations with the Royal Bank of Scotland about buying the local arm of investment bank ABN Amro.
NAB breaks rank to lifts rates again
National Australia Bank Ltd has broken ranks with the major banks and lifted its standard variable home loan by another nine basis points.
NAB ups standard variable rate to 9.46%
National Australia Bank has lifted its variable mortgage interest rates by 10 basis points.
Westpac may bid higher for St. George
Westpac Banking Corp Ltd WBC.AX
NAB's Write-Down May Hurt Future Funding
National Australia Bank could face higher funding costs after the bank shocked market participants with a write-down worth US$796.1 million, blaming the global credit crunch and...
Westpac set to mirror St George strategy
Westpac Bank will have to tread carefully if it wants to keep setting the standard for customer satisfaction at takeover target St George, a researcher says.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
Westpac may have to boost $17.6 billion St George bid (Reuters)
Reuters - Westpac Banking Corp Ltd , which has bid $17.6 billion for St George Bank in the biggest banking takeover ever in Australia, is bracing for rival offers to emerge that could push the price tag even higher.
Australia's Westpac offers $14B for bank rival St. George
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking sector in years.
St. George agrees to Westpac takeover
Westpac Banking Corp. and smaller rival St. George agreed to a takeover deal Tuesday worth 18.6 billion Australian dollars ($17.5 billion) that would create Australia's biggest...
St. George Bank agrees to Westpac...
St. George Bank agreed Tuesday to a nearly 19 billion Australian dollar (US$18 billion; €12 billion) takeover offer from Westpac Banking Corp. that would create Australia's...
Westpac approaches St. George in...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be...
Westpac pressured to lift rates
WESTPAC is coming under increasing financial pressure to top up its leading home loan interest rate after National Australia Bank's sudden move to bring the cost of its...
NAB still mulling St George bid
National Australia Bank chief executive John Stewart say his bank is looking over St George Bank before deciding whether to make a bid for it.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
Westpac Banking Corporation and St George banks in merger talks
Westpac Banking Corporation, Australia's oldest company, is in talks with St George, a former building society, about merging to form a A$64 billion ($£31 billion) institution.
National Australia Bank reports 25.8 percent rise in 1st half net profit
National Australia Bank Ltd. said Friday its first half net profit rose 25.8 percent over the same period last year, boosted by strong lending and deposit growth and a one-time gain from Visa Inc.'s initial public offering.
NAB slumps on debt shock
NATIONAL Australia Bank will suffer a $600 million blow to its annual net profit, sending its earnings into the first tailspin for four years, after taking a direct financial...
NAB shares slump on writedowns
National Australia Bank announces $830 million in additional provisions, sending its shares down as much as 13%.
NAB gains $221m from Visa float
National Australia Bank expects an after-tax gain of approximately $221 million from its shareholding in Visa Inc, following its float on the NYSE.
Moody's downgrades NAB's outlook
Ratings agency Moody's Investors Service has downgraded its outlook on National Australia Bank Ltd's credit rating to negative, from stable.
Westpac lifts variable home loan rates
Westpac Banking Group has lifted its variable home loan rates by 30 percentage points, and by more than the rise in official rates this week.
National Australia Bank reports 25.8%...
National Australia Bank Ltd. said Friday its first half net profit rose 25.8 percent over the same period last year.