National Australia Bank: Mgmt. optimistic that competitive pressures will ease

About the author:

Nathan Lead
Author name:
By Nathan Lead
Job title:
Senior Analyst
Date posted:
10 November 2023, 8:00 AM
Sectors Covered:
Infrastructure, Utilities, Banks

  • National Australia Bank's (ASX:NAB) earnings decline was more than expected in 2H23 but asset quality remained resilient and the capital position supported a lift in the final dividend and continuation of the buyback.
  • FY24-26F earnings downgrades. Target price reduced to (login to view). At current prices we estimate total potential return of c.3% (including 5.8% yield). HOLD.

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