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Profit down, but bank robust

Business | Banking
2008-10-17

NATIONAL Australia Bank Ltd, the nation's biggest, yesterday reported full-year profit declined 11 percent after avoiding credit-market losses of the magnitude that forced bailouts of lenders in the United States...

NAB eyes Bank of Scotland assets

Business | Banking
2008-7-12

ROYAL Bank of Scotland Group Plc is in talks to sell assets in Australia and New Zealand after losing a bidder for its United Kingdom insurance unit. National Australia Bank Ltd, the country's biggest bank by...

Asian stocks fall as US may enter a recession

Business | Securities
2008-1-22

ASIAN stocks fell on concern the United States will enter a recession and slow global growth. Japan's Nikkei 225 Stock Average dropped to its lowest since October 2005, while Hong Kong's Hang Seng Index plunged...

Australian banks up mortgage interest

Business | Banking
2008-1-5

THE National Australia Bank Ltd and the Australia & New Zealand Banking Group Ltd raised interest rates on mortgages to recoup higher funding costs, the first time in more than a decade major lenders changed home loan...

Citigroup in rush for yen bond sales

Business | Banking
2007-12-29

CITIGROUP Inc, Bank of America Corp and 30 other issuers from Iceland to Australia drove yen denominated bond sales in Japan to a seven-year high as they took advantage of the lowest rates in the industrialized world. ...

Record profits for National Australia Bank

Business | Banking
2007-11-10

NATIONAL Australia Bank Ltd, the country's biggest, yesterday posted record second-half profit. The result came as lending increased in an economy that has entered its 16th consecutive year of expansion. Net...

NAB pledges to buy 20% stake in Union Trust & Investment

Business | Banking
2007-9-11

NATIONAL Australia Bank Ltd yesterday signed an agreement to acquire a 20 percent stake in China's Union Trust & Investment Ltd, with an undisclosed price. The price was "not material", the Melbourne-based bank...

Aussie bank earnings climb 7.1%

Business | Banking
2007-5-11

NATIONAL Australia Bank Ltd, the country's largest bank, yesterday reported a 7.1 percent jump in net profit to A$2.14 billion (US$1.77 billion) in the six months ended March 31, but warned bad debts were rising as...

Australian bank increases share buyback plan

Business | Banking
2007-2-1

NATIONAL Australia Bank Ltd more than doubled a share buyback program to A$1.2 billion (US$926 million) after cutting its regulatory capital targets last year. The bank will increase the buyback by A$700 million,...

Record trade gap

Business | Banking
2004-12-15

THE US trade deficit widened to an all-time high of US$55.5 billion in October, boosted by higher oil prices and record imports from China, a government report showed. The trade gap in goods and services followed a revised US$50.9 billion deficit in September.