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澳大利亚国民银行:预计到明年2月,澳洲联储的官方现金利率(OCR)将降至2.6%。
news flash· 2025-04-09 22:42
Core Viewpoint - The National Australia Bank (NAB) forecasts that the official cash rate (OCR) set by the Reserve Bank of Australia (RBA) will decrease to 2.6% by February next year [1] Group 1 - NAB's prediction indicates a significant shift in monetary policy, reflecting expectations of economic conditions that may warrant lower interest rates [1] - The anticipated reduction in the OCR could influence borrowing costs and consumer spending in the Australian economy [1] - This forecast aligns with broader trends observed in global monetary policy adjustments as central banks respond to economic indicators [1]
SAN vs. NABZY: Which Stock Is the Better Value Option?
ZACKS· 2025-03-31 16:46
Core Insights - Investors are considering Banco Santander (SAN) and National Australia Bank Ltd. (NABZY) for potential value opportunities in the Banks - Foreign sector [1] Valuation Metrics - Banco Santander has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity compared to National Australia Bank Ltd., which has a Zacks Rank of 3 (Hold) [3] - SAN's forward P/E ratio is 7.72, significantly lower than NABZY's forward P/E of 14.41, suggesting SAN may be undervalued [5] - The PEG ratio for SAN is 0.81, while NABZY's PEG ratio is 7.67, indicating SAN's expected earnings growth is more favorable [5] - SAN's P/B ratio is 0.93, compared to NABZY's P/B of 1.57, further supporting SAN's valuation attractiveness [6] Value Grades - Based on various valuation metrics, SAN holds a Value grade of A, while NABZY has a Value grade of D, indicating SAN is perceived as a better value investment [6][7]
BKEAY vs. NABZY: Which Stock Should Value Investors Buy Now?
ZACKS· 2025-03-13 17:09
Core Viewpoint - The Bank of East Asia Ltd. (BKEAY) is currently viewed as a more attractive investment option compared to National Australia Bank Ltd. (NABZY) for value investors seeking undervalued stocks [1][3][7] Valuation Metrics - BKEAY has a forward P/E ratio of 6.25, significantly lower than NABZY's forward P/E of 14.37 [5] - The PEG ratio for BKEAY is 0.80, indicating a favorable valuation in relation to its expected earnings growth, while NABZY's PEG ratio is much higher at 7.64 [5] - BKEAY's P/B ratio stands at 0.25, which is substantially lower than NABZY's P/B ratio of 1.57, suggesting that BKEAY is undervalued relative to its book value [6] Zacks Rank and Style Scores - BKEAY holds a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions, while NABZY has a Zacks Rank of 4 (Sell) [3] - BKEAY has earned a Value grade of A, contrasting with NABZY's Value grade of F, highlighting BKEAY's stronger position in terms of value metrics [6]
NAB(NABZY) - 2024 Q4 - Earnings Call Transcript
2024-11-07 05:12
Financial Data and Key Metrics Changes - Cash earnings decreased by 8.1% year-over-year, primarily due to a 6.9% decrease in underlying earnings resulting from lower revenue and higher costs [7][34] - The cash return on equity declined to 11.6%, aligning with returns achieved in 2022 [11] - The final dividend of $0.85 brings the full-year dividends to $1.69, representing 73.7% of cash earnings for the year [12] Business Line Data and Key Metrics Changes - Business and Private Banking saw a 42% growth in lending balances over the past four years, with a solid half showing underlying profit growth of approximately 2% to 2.5% [10][36] - Personal Banking experienced a 5.6% growth in underlying profit as margins stabilized [37] - Home lending strategy focuses on delivering a seamless customer experience, with returns gradually improving due to stable pricing and lower funding costs [28] Market Data and Key Metrics Changes - Business credit growth was 7.5% in 2024, expected to moderate to around 5% in 2025, remaining stronger than housing credit growth [74] - The New Zealand economy faced challenges, but BNZ has grown market share in both lending and deposits [11] Company Strategy and Development Direction - The company aims to be the most customer-centric organization in Australia and New Zealand, focusing on improving customer experiences and simplifying processes [15][18] - There will be a modest increase in investment spend to approximately $1.8 billion in FY '25, targeting improved customer advocacy and technology modernization [50] - The company maintains a disciplined approach to managing costs while prioritizing major projects like the AUSTRAC EU and Citi migration [77] Management's Comments on Operating Environment and Future Outlook - The Australian economy is expected to remain resilient, with a gradual easing cycle anticipated from early 2025 [72] - Despite challenges, business activity levels remain robust, supported by high levels of capacity utilization [73] - The company is optimistic about managing through economic cycles while finding opportunities for long-term growth [75] Other Important Information - The total collective provision balance at September was $5.2 billion, including around $1.9 billion of forward-looking provisions [13] - The liquidity coverage ratio and net stable funding ratio are well above minimum requirements, with a focus on growing customer deposits [14][69] Q&A Session Summary Question: Margin outlook and deposit pricing - The company noted a four basis point headwind to NIM from deposits, with a split of two basis points from deposit mix and one from term deposit pricing [80][82] - Deposit pricing in Australia has been stable, with some lag in New Zealand [83] Question: Credit quality in Retail and SME Banking - Hardship requests peaked in mid-year but have since plateaued, indicating a potential stabilization in housing asset quality [84][85] - The SME cycle is expected to lag the consumer cycle, with the company prepared for potential deterioration in asset quality [87] Question: Business Banking margins and competition - The decline in Business Bank margin is primarily due to deposit side pressures, with strong competition in the sector [89][91] - The company remains confident in its long-term relationships and market position despite competitive pressures [92] Question: Trends in deposit mix - A healthy majority of savings balances are in higher rate accounts, with approximately 70% earning higher rates [95][96] - The Business Bank also has significant balances in high net worth offerings, contributing to the overall deposit mix [97]
National Australia Bank Limited (NABZY) Q4 2024 Earnings Conference Call Transcript
Seeking Alpha· 2024-11-07 05:12
Group 1 - The company reported sound financial results for the full year 2024, with the second half benefiting from a more stable operating environment [4] - The Australian economy has shown resilience despite the impact of higher interest rates [4] Group 2 - The presentation included an overview of the company's performance and outlook for the second half of the year [3] - The conference call featured participation from various financial institutions, indicating strong interest from analysts and investors [1][2]
WF or NABZY: Which Is the Better Value Stock Right Now?
ZACKS· 2024-07-26 16:45
Investors interested in Banks - Foreign stocks are likely familiar with Woori Bank (WF) and National Australia Bank Ltd. (NABZY) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. Right now, Woori Bank is sporting a Zacks Rank of #2 (Buy), while National Australia Bank Ltd. has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfor ...
NAB(NABZY) - 2024 Q2 - Earnings Call Presentation
2024-05-02 15:30
More seamless & digital SME business lending | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------|-----------------------------------|---------------------------------------------------------------------------------------|----------------|-------------------------------------|--------|-------|---------|-------------------------------------------------------------------------------------|-----------|------------------------------------------------------------------------------------- ...
NAB(NABZY) - 2024 Q2 - Earnings Call Transcript
2024-05-02 15:28
Financial Data and Key Metrics Changes - The interim dividend of $0.84 represents 74% of cash earnings for the half, reflecting a stable performance despite competitive pressures [27] - Cash earnings fell 3.1% over the half, with lower impairment charges offset by an increase in the effective tax rate [41] - The common equity Tier 1 (CET1) ratio stands at 12.15%, comfortably above the target range of 11% to 11.5% [28][51] Business Line Data and Key Metrics Changes - Underlying profit in Personal Banking declined by 9% this half, while New Zealand Banking delivered a strong performance with a 4% increase in underlying earnings [42] - The Corporate and Institutional Banking division saw an increase in return on equity (ROE) of 520 basis points to 16.3% over the last three years [31] - Business lending grew by 35% over three years, with total business deposits growing well above the system [32] Market Data and Key Metrics Changes - The Australian housing lending market remains highly competitive, with margins under pressure, but there are signs of stabilizing margins due to improved front book pricing [36] - The overall economic environment in Australia is holding up, with real GDP growth expected to remain below trend rates of less than 2% in 2024 [76] - The liquidity coverage ratio (LCR) is slightly lower at 139%, reflecting a reduced level of average liquid asset holdings [75] Company Strategy and Development Direction - The company aims to maintain a disciplined approach to growth while focusing on customer-centricity and simplification of processes [53] - There is a strong emphasis on improving digital capabilities and customer experiences, particularly in unsecured lending and business banking [46][67] - The company plans to continue its on-market share buyback program, increasing it by $1.5 billion, reflecting strong capital levels [28][51] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by higher interest rates and inflation on households, but remains optimistic about the resilience of the Australian economy [76] - The company is focused on supporting customers facing financial difficulties and has seen a rise in demand for assistance from community organizations [29] - Management emphasizes the importance of disciplined execution and continuous improvement in customer service and operational efficiency [53][66] Other Important Information - Credit impairment charges reduced to $363 million or 10 basis points of gross loans and advances, reflecting a mix of volume growth and asset quality deterioration [37][50] - The company has released $40 million from forward-looking provisions, indicating an improved outlook for certain sectors [50] - The company has been actively working on fraud prevention, recovering over $260 million in scam losses for customers since September 2021 [44] Q&A Session Summary Question: Capital levels and buyback strategy - The company is comfortable operating within the target range of 11% to 11.5% for CET1 ratio, even after the buyback [55][56] Question: Customer-centricity and NPS performance - Management acknowledges a decline in the Net Promoter Score (NPS) and attributes it to KYC remediation efforts, emphasizing the need for better management of customer interactions [57][66] Question: Business & Private Bank pipeline and SME growth - The immediate pipeline for SME growth remains strong, but management anticipates a moderation in growth later in the year [63] Question: Impact of interest rates on ROE - The return on equity has benefited from rising interest rates, but management is mindful of potential declines in a lower rate environment [65]
National Australia Bank Ltd. (NABZY) Upgraded to Buy: Here's What You Should Know
Zacks Investment Research· 2024-01-11 18:32
National Australia Bank Ltd. (NABZY) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individu ...
National Australia Bank Says Real-Time Cash and Working Capital Management Among 2024's Banking Megatrends
PYMNTS· 2024-01-04 09:03
Several megatrends are shaping financial services, Nilesh Dusane, global head of institutional payments at AWS, and Shane Conway, executive general manager of transaction banking, enterprise payments and asset servicing at National Australia Bank, told Karen Webster.The digitization of banking is creating new customer experiences for consumers but also for small businesses. The form factors being used for payments are shifting from checks, cash and cards to mobile devices.And increasingly everyone wants a r ...