National Australia Bank reported a headline statutory loss of $1.4 billion primarily due to the UK Clydesdale Bank (CYBG) demerger. Cash earnings were $3.3 billion, up 6.5% compared to the prior corresponding period. Excluding one-offs totalling $5 billion, the statutory net profit was $3.3 billion.   We are comfortable with the current CEO’s (Andrew Thornburn) strategy of shifting towards a capital light business model and demonstrating that the leadership team are also pro-actively addressing the issues of the business in a way which to date have been creditor friendly. For more information see our security recommendations below.  

  • NAB Capital Notes (ASX: NABPC). Click here.
  • NAB Subordinated Notes (ASX: NABHB). Click here.
  • NAB Convertible Preference Shares (ASX: NABPA). Click here.
  • NAB Convertible Prefrence Shares 2 (ASX: NABPB). Click here.
  • National Income Securities (ASX: NABHA). Click here.
  • NAB Floating Rate Capital Instrument. Click here.
  • NAB Wholesale Subordinated Notes. Click here.
  • NAB Wholesale Subordinated Notes 2. Click here.
  • NAB 4.00% 2018. Click here.
  • NAB 7.25% 2018. Click here.
  • NAB 4.00% 2019. Click here.
  • NAB 4.25% 2019. Click here.
  • NAB FRN 1.17% 2016. Click here.
  • NAB FRN 0.85% 2017. Click here.
  • NAB FRN 1.85% 2017. Click here.
  • NAB FRN 0.78% 2018. Click here.
  • NAB FRN 0.88% 2018. Click here.
  • NAB FRN 0.82% 2019. Click here.
  • NAB FRN 0.85% 2019. Click here.
  • NAB FRN 0.80% 2020. Click here.
  • NAB Covered 5.00% 2024. Click here.