National Australia Bank (ASX:NAB) is one of Australia’s “big four” banks, with a focus on regional banking, wealth management operations, international capital markets and institutional banking business. Brands within Australia include NAB and MLC, and the group is represented in New Zealand by Bank of New Zealand. In the UK the brands are Clydesdale Bank and Yorkshire Bank.

Financials stock, National Australia Bank released its first quarter trading update which showed 1Q FY12 earnings of approximately $1.4 billion, 8% higher than the previous corresponding period.

The bank said that revenue was driven by wholesale banking and to a lesser extent, MLC and NAB wealth.

NAB also revealed that it will undertake a strategic review of its UK operations, with a view to reposition the arm to deal with the current economic situation in the region.

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National Australia Bank (ASX:NAB) is one of Australia’s “big four” banks, with a focus on regional banking, wealth management operations, international capital markets and institutional banking business. Brands within Australia include NAB and MLC, and the group is represented in New Zealand by Bank of New Zealand. In the UK the brands are Clydesdale Bank and Yorkshire Bank.

Financials Stock NAB held its AGM today, where it stated it expects a challenging 2012 as it faces a combination of volatile markets and subdued consumer and business sentiment.

CEO Mr Cameron Clyne said the group was committed to its strategic agenda, which drove a solid performance in 2011.

Mr Clyne also flagged increasing offshore funding costs which were placing further pressure on the bank’s margins.

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National Australia Bank (ASX:NAB) is one of Australia’s big four banks, whose divisions span retail and business banking, wealth management, capital markets and institutional banking.

It is one the biggest companies in the Australian share market and is widely considered among the blue chip stocks.

Overnight, newspaper reports suggested NAB is in talks to acquire more than 600 Lloyds branches in the UK.

The acquisition would see NAB merge its Clydesdale and Yorkshire bank units with the Lloyds branches, creating a new major UK lender.

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National Australia Bank (ASX:NAB) is one of Australia’s big four banks, whose divisions span retail and business banking, wealth management, capital markets and institutional banking.

NAB’s businesses span across the globe, with operations in the US (Great Western Bank), the UK (Clydesdale and Yorkshire Bank), and New Zealand (BNZ).  The company is also widely considered among the market’s blue chip stocks.

On 8 February, NAB reported unaudited 1Q11 cash earnings of approximately $1.3 billion, up 18% from the previous year.

NAB attributed the result to improved revenue from its Australian banking operations, mark-to-market gains on its specialised group assets portfolio, and lower charges for its bad and doubtful debts.

However, the group said margins were down from the 2H10 due to higher funding costs offsetting the recent repricing of its retail loan book.

NAB stocks added 1.9% after its earnings result exceeded analyst estimates, making it the best performing major bank in the stock market on the day.

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National Australia Bank (NAB) is one of Australia’s “big four” banks, with a focus on regional banking, wealth management operations, international capital markets and institutional banking business.  The group is also widely considered among the market’s blue chip stocks.

Brands within Australia include NAB and MLC, whereas the group is represented in New Zealand by Bank of New Zealand.  In the Americas NAB’s bank is Great Western, and in the UK, Clydesdale Bank and Yorkshire Bank.

On 27 October, NAB posted a 19% rise in FY10 cash profit to $4.58 billion, exceeding analyst estimates of a $4.49 billion profit.

Net profit surged 63% to $4.22 billion, driven mainly by a big drop in write-downs associated with problem loans.

Net interest margin increased 9 basis points to 2.25%, but revenue declined 1.6% amid lower net interest income, and global market volatility reducing its Treasury income.

NAB also increased its final dividend to 78 cents from last year’s 73 cents, whilst its share price jumped 2.1% on the day of the announcement, making it one of the better performers in the stock market.

National Australia Bank (NAB) is one of Australia’s big four banks, with divisions spanning retail and business banking, wealth management, capital markets and institutional banking.

NAB’s businesses span across the globe, with operations in the US (Great Western Bank), the UK (Clydesdale and Yorkshire Bank), and New Zealand (BNZ).

Given NAB’s stature, it is also widely considered one of the blue chip stocks in the Australian share market.

NAB surprised the market in late 2009 by making a play for AXA Asia Pacific for a consideration of $4.6 billion, or $6.43 per share.

Recently, however, NAB terminated its bid for the wealth manager.

The announcement followed last week’s decision by the ACCC to block NAB’s bid on competition grounds.

The move now opens the door for AMP Ltd (AMP) to make another play for AXA.

The market gave its tick of approval to the decision, with NAB shares jumping 2.9% following its announcement.

Aussie Stocks – AMP Limited  (AMP)

AMP Limited (AMP) is a leading wealth management company with more than 3.4 million customers across Australia and New Zealand. Aussie stock AMP is a popular blue chip stock and is one of the major movers on the ASX.

It is Australia’s largest retail and corporate superannuation provider, and one of the region’s most significant investment managers.

AMP offers a wide range of financial products and services, including: retirement savings and income; investments; superannuation; financial planning; insurance; and banking.

After bouncing back in 2009 after a disastrous 2008, AMP has encountered further challenges in 2010 on fears of a global economic slowdown.

The group released its 2009 results earlier this year, which failed to move market sentiment.

Today, AMP released its 1H10 results. The group’s closely-watched underlying earnings result was below market expectations, being impacted by higher insurance claims and a decline in profit from AMP’s mature business.

All of AMP’s divisions showed weakness in 1H10, except for its New Zealand division, and the group is forecasting continued investment market difficulty in 2H10.

Credit Crunch Cloud

Towards the end of 2007, AMP encountered problems, care of the high volatility flooding the Australian equity market.

AMP went into damage control in late 2007 and 2008 as its stock slumped, taking careful steps to maintain its “A”-range credit rating.

The company soldiered through the credit crunch by bypassing acquisitions in order to reduce debt and pay out capital returns to shareholders.

AMP looked ready to turn it all around last year, in line with the growth displayed by most companies (including finance companies) on hopes of a global economic rebound.

Renewed Investment Jitters

Coming into 2010, AMP’s stock became sluggish on renewed fears of a global economic downturn.

In February, AMP released its results for 2009, failing to move market sentiment much either way.

Net profit rose to $739 million from $580 million in the prior year, whilst underlying profit was down 5% at $772 million.

Revenue from ordinary activities came in at $10.92 billion, swinging from a loss of $10.97 billion the prior year on the back of net investment losses.

AMP kept its dividend steady at 16 cents per share, contributing to a result that both AMP and a major broker noted was roughly in-line with forecasts.

AXA Deal Dragging

Market focus on AMP has for a long time revolved around its bid for AXA Asia Pacific Holdings, which has also been a takeover target for other suitors.

In May, AMP said there is a long way to go in its proposed purchase of AXA. The company admitted to still needing final approval from Treasurer Wayne Swan, though the ACCC has not blocked AMP’s bid.

AMP is looking to AXA APH’s independent directors and minority shareholders for proposal support after the ACCC blocked National Australia Bank’s (NAB) counter-bid for AXA.

With today’s 1H10 results release, AMP failed to release any encouraging news on the proposed takeover.

The group noted that AXA still remains strategically attractive, though the market is of the opinion that NAB will eventually win AXA.

Underlying Earnings Aches

AMP today disappointed the market by reporting 1H10 results which fell short of expectations.

Net profit for the half rose 17.4% to $425 million on growth initiatives, and ahead of analysts’ forecasts for around $383.4 million.

Of more concern was AMP’s underlying profit result of $383 million. Though this was up from $367 million in the same half a year ago, it was below market expectations for around $420 million.

AMP declared a half dividend of 15 cents per share, compared to a dividend of 14 cents a year ago.

A deeper look into AMP’s results highlighted several challenges. All of AMP’s divisions showed weakness for 1H10, except for its New Zealand business.

Also evident was the impact of a government crackdown on fees in the domestic pension fund industry. As one of Australia’s largest pension fund managers, AMP has had to respond to the crackdown by rolling out new products.

However, the potential benefits of these new products will not likely be seen in the near-term.

AMP said that investment markets are likely to remain challenging in 2H10 and added it was too soon to give guidance for the full year.

The one upside was cost guidance. AMP expects costs in the Australian Financial Services division to rise just 3% in 2010, down from a prior forecast for 4%-5% higher costs.

Outlook

Like many global equities – and not just those pertaining to the finance sector – AMP has seen its fair share of trials coming into 2010.

Renewed fears of a global economic slowdown has dragged on AMP, which is also battling a government crackdown on fees in the domestic pension fund industry.

AMP’s 1H10 results failed to impress investors today. The underlying earnings result was below analysts’ expectations. It is evident that AMP has suffered a difficult half on higher insurance claims and a decline in profit from its mature business.

All of AMP’s divisions showed weakness in 1H10, except for its New Zealand division.

Unfortunately, going ahead AMP expects to see further challenges. The company anticipates investment markets to remain troubling in 2H10, and for this reason AMP has declined to give specific full year outlook guidance.

AMP share price has suffered over the course of one year falling from as high as $6.97 to as low as $5.09 in yesterday’s session. However, if a break through below $5.00 key support is confirmed then further weakness may result.

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One of Australia’s biggest blue chip stocks, National Australia Bank (NAB), has reportedly withdrawn from its pursuit of Royal Bank of Scotland’s UK branches.

It is believed that NAB’s outlook for the UK economy has deteriorated in the last few weeks, prompting the bank to reconsider its existing exposure to the country.

While NAB has stated that it doesn’t intend to sell the Clydesdale and Yorkshire Banks, there are suggestions that some of Spain’s larger banks could make a play for these divisions.

Separately, NAB’s US division, Great Western Bank, has acquired assets and liabilities of TierOne Bank for approximately US$76 million.

The decision is expected to add to NAB’s earnings and will be funded entirely through existing deposits.

NAB’s recent share price weakness, relative to other financial blue chip stocks, stems from its questionable foray into the UK market and its continuing pursuit of AXA, which the market fears will lead to an additional capital raising.

National Australia Bank (NAB) is one of Australia’s big four banks, with a focus on regional banking, wealth management operations, international capital markets and institutional banking.

Slower loans growth and rising bad debts have given our banks headaches of late, as part of a hangover from the global economic downturn.

Whether the world has emerged from global economic toughness or not is still a point of contention, though indications tend to be in favour of a cautious recovery.

National Australia Bank Group has made some small acquisitions over the year, indicating that it has enough cash to splash out and expand its business into regions it feels are capable of fantastic growth prospects.

Some of these strategic acquisitions include Aviva PLC’s Aussie business for $825 million in cash, to bolster its wealth management business.

National Australia Bank shares have had an impressive run of late, with the stock breaking out above the $23.62 area in late July.

From its March lows of around $15.85, NAB shares are currently up nearly 80%.

NAB has warned that any further loan delinquencies could peak around March 2010, depending on how the key Christmas trading period pans out, though the FY results demonstrate that NAB’s UK business is turning around, and that the group’s Aussie banking business is driving positive revenues.

Over the week in Australia, stocks to watch have included miners, in particular gold miners, banks and property trusts.

The market had another strong week last week, adding 112 points (+2.4%) to close at 4706.

In Australian stock market news, much of the gains were driven by the mining sector, helped by a weak US dollar which boosted commodity prices.

Mining giant BHP Billiton (BHP) was up 4.3% for the week, while Rio Tinto (RIO) performed even better, up 7%.

Smaller miners also put on strong gains, with OZ Minerals (OZL) up almost 7%.

Gold miners performed very strongly early in the week, before giving up most of their gains, as gold prices closed above US$1100 an ounce for the first time ever.

In Australia stocks to watch also included the banks, which were less unified, with only half of the major banks finishing ahead for the week.

Commonwealth Bank (CBA) was the strongest of the bunch, up over 3%, buoyed by strong a strong first-quarter report.

ANZ Bank (ANZ) and National Australia Bank (NAB) both gained around half a percent, despite NAB paying out a dividend. Westpac (WBC) lost close to 3%, but this was mostly due to it also paying a dividend during the week.

The property sector was also strong, with Stockland (SGP) and Mirvac (MGR) each up 10%.