A Quick Look at National Australia Bank’s Annual General Meeting

On December 19, 2018, National Australia Bank (ASX: NAB) came forward and issued a press release which focused on the information about annual general meeting or AGM. It can be said that the FY 2018 was indeed a difficult year for the broader banking sector. As per the press release issued, the management of National Australia Bank is inclined towards making the bank which could be the preferred option of the customers. The press release also stated that the board of National Australia Bank has also considered the amendments with regards to the senior executives’ remuneration. The management also stated that they are committed towards controlling the factors which are under their control. They have maintained their focus on the deployments towards key avenues as well as accurate future planning. However, the bank has also been working towards the executive leadership.

As demonstrated by the bank’s FY 2018 results, the year got a hit because of the customer-related remediation as well as costs with regards to the restructuring. However, the bank’s revenues witnessed the favourable momentum thanks to the margins as well as favourable momentum in the lending. The bank had also stated favourable views with respect to the balance sheet variables as well as asset quality. As stated in the FY 2018 results by the management of National Australia Bank, they are expected to reach the target which was set by APRA or Australian Prudential Regulation Authority with regards to the CET 1. By January 2020, this regulatory body had stated that CET 1 of 10.5% needs to be maintained.

The management of National Australia Bank had stated that its processes as well as systems should be further improved because of the competitive landscape as well as changing expectations of the customers. The management of the bank had stated that even though there have been economic hurdles, the overall business conditions are presently at the place which happens to be above long run average. The bank needs to convert this to the robust business confidence as well as investment with the help of the customer engagement. As showcased by the bank’s FY 2018 results, the earnings of its business and private banking business witnessed favourable momentum on the YoY basis because of the positive momentum in the revenues which were supported by the increased margins as well as robust momentum with regards to the SME business lending. In the release depicting the FY 2018 results, the bank had stated that the economies of New Zealand as well as Australia are expected to witness favourable momentum.

Let us see how the stock has performed on December 19, 2018. National Australia Bank, on the said date, had ended these session in green and the stock price settled at A$23.320 per share which depicts the rise of A$0.190 per share or 0.821%. The annual dividend yield of National Australia Bank happens to be 8.56%. However, its market capitalisation stood at $63.24 billion.


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