National Australia Bank (NAB) is a large financial services group providing a comprehensive and integrated range of financial products and services throughout Australia, New Zealand and parts of the United Kingdom. NAB is the largest financial services institution listed on the ASX by market capitalisation.Australian banking operations dominate and represent 60% of group assets.

NAB has refocused on the Australian, New Zealand and UK banking market after significant losses in the US HomeSide mortgage operation. NAB lifted its exposure to the wealth management sector with the acquisition of MLC in 2000.National Australia Bank reported a 17% increase in NPAT to $2,535m for the half year to 31 March 2005. The bank noted that performance has been impacted by a number of significant items, including a net profit of $1,073m from the sale of the Northern Bank and National Irish Bank and restructuring expenses of $282m. Net profit before significant items decreased 15.9% to $1,714m. Cash earnings (before significant items) of $1,618 million at March 31, 2005, decreased $232 million or 12.5%. Revenue from ordinary activities rose 20.2% to $18,478m. Diluted EPS was 153.7 cents, rising from 135.1 cents in the pcp due to significant items. Net cash provided by operating expenses was $6,483m, compared to an outflow of $1,456m in the pcp. The bank declared an interim dividend of 83 cents, 80% franked, compared to a fully franked dividend of 83 cents in the pcp.

30/09/04

Leading Index

ASX 20

Sector Index

Financial-x-Property Trusts

Industry Group

Banks