National Australia Bank Limited
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July 1, 2020
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National Australia Bank Limited

Revenue:
AUD 17,931.0 million (2019)
Profit:
AUD 4,798.0 million (2019)
Employees:
33,950 (2019)
GICS Industry Group:
Headquarters:
Melbourne, Victoria, Australia
Founded:
1858
Current CEO:
Ross McEwan (2 Dec 2019–)
Parent:
This is the ultimate parent

Description

National Australia Bank (NAB) is an Australian multi-national banking and financial services company that has over 9 million customers and more than 900 locations globally. NAB was founded as the National Commercial Banking Corporation of Australia Limited in 1982 through the merger of National Bank of Australasia (founded 1858) and the Commercial Banking Company of Sydney (founded 1834).

NAB's principal activities include banking services, credit and access card facilities, leasing, housing and general finance, international banking, investment banking, wealth management services, funds management and custodian, trustee and nominee services. The majority of NAB's financial services businesses operate in Australia and New Zealand, with branches located in Asia, the United Kingdom and the United States of America.

For the year end 30 September 2019, NAB had AUD 424.6 billion in customer deposits (spot), and employed 33,950 people (average full-time equivalent). As at 30 September 2019, the bank also had AUD 847.1 billion in assets (total assets), and assets under management (AUM) (spot) of AUD 201.5 billion.

On 8 February 2016, NAB exited its investment in CYBG Group, a United Kingdom-based banking group, by demerging 75% of the CYBG Shares to NAB Shareholders. The remaining CYBG Shares were divested by NAB under an institutional offer. As a result of this demerger and the institutional offer, CYBG Group now operates its business separately from NAB.

NAB is listed on the Australian Securities Exchange (ASX) under the code NAB.

In Australian Dollars (AUD)
In Australian Dollars (AUD)
In Australian Dollars (AUD)

Operating Segments:

Business and Private Banking - The business and private banking segment focusses on three customer segments: small businesses, medium businesses and investors. Customers are served through an integrated banking model locally led by managing partners through business banking centres and through the small business customer hubs. This includes specialists in Health, Agribusiness, Government, Education, Community and Franchising (GECF), Professional Services and Commercial Real Estate. The division also serves high net worth customers through the Private Bank and JBWere. For the financial year end 30 September 2019, business and private banking accounted for 37.20% (AUD 6,671.0 million) of operating income.

Consumer Banking and Wealth - Comprises the NAB and UBank consumer banking divisions and the Wealth divisions of Advice, Asset Management and Superannuation. The division provides customers with access to independent advisers, including mortgage brokers and a financial planning network of advisers in Australia. For the financial year end 30 September 2019, business and private banking accounted for 29.60% (AUD 5,307.0 million) of operating income.

Corporate and Institutional Banking - Provides a range of lending and transactional products and services related to financial and debt capital markets, specialised capital, custody and alternative investments. This division provides services to customers in Australia and globally, including branches in the US, UK and Asia. For the financial year end 30 September 2019, business and private banking accounted for 18.77% (AUD 3,366.0 million) of operating income.

New Zealand Banking - New Zealand Banking is comprised of Consumer Banking, Wealth, Agribusiness, Corporate and Insurance franchises and markets sales operations in New Zealand. This segment operates under the Bank of New Zealand brand. For the financial year end 30 September 2019, business and private banking accounted for 13.38% (AUD 2,399.0 million) of operating income.

Corporate Functions and Other - For the financial year end 30 September 2019, corporate functions and other accounted for -2.91% (AUD -522.0 million) of operating income.

Note: Eliminations and unallocated items accounted for 3.96% of operating income for the financial year end 30 September 2019, in order to balance total income with "Net interest income" and "Other income", as presented in the income statement.

Mergers and Acquisitions:

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