National Australia Bank’s profits are down 51% and their shares have been placed in a trading halt.
Open Banking has been delayed in Australia.
Business Confidence is Down.
Bank shares plunge.
#NAB #Banking #HeiseSays NAB profits plunge. References https://www.nab.com.au/content/dam/nabrwd/documents/reports/corporate/fy19-investor-presentation.pdf ‘Disappointing’: NAB profits tumble 10.6 per cent, executives miss out on bonuseshttps://www.smh.com.au/business/banking-and-finance/nab-profits-tumble-10-6-per-cent-as-customer-compensation-costs-bite-20191107-p5385q.html
#Banks #Profits #HeiseSays The profits of the big four plunge. References Banks’ messy results will not cloud the not-so-pretty picture https://www.abc.net.au/news/2019-10-27/banks-messy-results-will-not-cloud-the-not-so-pretty-picture/11639074?section=business
#Construction #NAB #Walton NAB is facing a potential $74 million lawsuit from over 1000 creditors for their apparent role in the Walton Construction Collapse. References https://www.abc.net.au/news/2019-09-04/nab-could-face-$74million-suit-over-walton-construction-collapse/11466506?section=business
#NAB #Business #Confidence References NAB Monthly Business Survey: July 2019 https://business.nab.com.au/wp-content/uploads/2019/08/NAB-Monthly-Business-Survey-July-2019.pdf