Moody's downgrades NAB's outlook
August 1, 2008
Ratings agency Moody's Investors Service has downgraded its outlook on National Australia Bank Ltd's credit rating to negative, from stable.
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.
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 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.
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 shares slump on writedowns
National Australia Bank announces $830 million in additional provisions, sending its shares down as much as 13%.
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...
Westpac beats gloom
WESTPAC yesterday ruled out any need to ration lending in the global credit crisis, revealing that it had so far escaped the worst of the domestic economic slowdown.
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.
National Australia Bank names new chief executive
National Australia Bank Ltd., one of the country's biggest lenders, said Thursday that the head of its New Zealand operations, Cameron Clyne, will take over as chief executive, replacing John Stewart at the start of next year.
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, boosted by strong lending and deposit growth and a one-time...
NAB ups standard variable rate to 9.46%
National Australia Bank has lifted its variable mortgage interest rates by 10 basis points.
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 and NAB play catch-up
WESTPAC and National Australia Bank are expected to add to the pressure on home owners and businesses as early as tomorrow as they prepare to catch up with the latest rises in...
NAB role unclear as Stewart joins...
THE chief executive of National Australia Bank, John Stewart, has again fuelled speculation that he may leave within 18 months to serve on company boards, after he was appointed...
Intercity rivalry doesn't stop at...
There is a mischievous view doing the rounds of the banking industry that if it was not for Melbourne, the share prices of the rest of the majors would be in much better shape....
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.
Australia's Commonwealth Bank eyeing BankWest: report (Reuters)
Reuters - Commonwealth Bank of Australia (CBA) , the country's No. 2 bank by assets, may offer over A$6 billion ($5.2 billion) to British bank HBOS for its Australian unit BankWest, the Australian newspaper reported on Monday.
NAB won't rule out St George bid
National Australia Bank chief executive John Stewart has not ruled out making a counterbid for St George Bank.
NAB appoints Cameron Clyne as new CEO
National Australia Bank Ltd has appointed the head of its New Zealand operations, Cameron Clyne, as its new chief executive.
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
Similar news about ANZ Bank
Westpac deal raises hopes of...
Reuters - The largest banking takeover in
Australia's corporate history has spurred investors to pile
into shares of smaller banks in the hope of a sector shake-out.
St George to recommend Westpac takeover
St George Bank's board will recommend to its shareholders Westpac Banking Corporation's $19b takeover after the two lenders signed an implementation agreement.
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.