National Australia Bank Limited
From IntFX
See also: NAB for realtime information.
National Australia Bank Ltd is one of the leading financial service organizations providing to customers / clients full range of financial products and services.
The bank's business is organized into four operating segments:-
- Australia Region
- United Kingdom Region
- New Zealand Region
- nabCaptial
- Corporate Center
- Group Funding
Important events of NAB during current year are:
- In July, 2006 the bank sold its Custom Fleet's operations in New Zealand.
- NAB also sold its MLC Asia businesses in May 2006
- The bank in FY 2006 had $97 billion in assets under management and administration and $474 billion in funds under custody and investment administration
NAB has operations in Australia, Europe, New Zealand, the United States and Asia. Its main operating subsidiaries comprise Bank of New Zealand, Clydesdale Bank PLC, MLC Limited and National Australia Financial Management Limited. The bank is headquartered in Melbourne, Australia and is listed on the Australian Stock Exchange under the ticker “NAB”. It has 8 million banking and 2.3 million wealth management customers and has 38,433 full time employees.
[edit] Strategy
The bank’s focus is to concentrate on core capabilities and improving customer satisfaction. NAB has also ensured a well diversified portfolio of commodities across geographies to reduce the earnings volatility. It is also considering option of share buy back. The bank is also concentrating on regional business model so that customers can be handled on local level needs.
[edit] Financial and operational performance
In 2006, net profit increased by 10% to $4.3 billion. This growth was owing to products related to UK pension reforms 2006 and profit on sale of Irish Banks in 2005. Return on average equity has increased by 80 bps to 18.8%. The cash earning rose 21.9% to $ 3.9 billion. The bank reported 25% increase in interest income to $ 8.68 billion in 2006 over 2005.
