National Australia Bank News

National Australia Bank boss Cameron Clyne will personally oversee the restructure of the bank's under-pressure British arm after long-serving European chairman Malcolm Williamson outlined plans to step down from next month.

National Australia Bank is winding down its private equity arm, marking the death knell for Australia's big four banks' foray into the sector.

The euro firmed against the dollar and yen in a "relief rally" in Asia Monday as opinion polls suggested Greece's conservative pro-austerity party was in the lead prior to next month's election.

The company, which is owned by National Australia Bank, saw its rating by Standard & Poor's slashed from "A+" to "BBB+". The resulting rise in funding costs as some companies moved money out, combined with bad debts, sent the bank to a 250 million pre-tax loss for the period.

THE former Treasury secretary Ken Henry has accepted a seat on the board of Reconciliation Australia.

Mobile malware targeting the financial services industry will continue to rise unless companies do a better job of testing apps and educating users according to National Australia Bank head of mobile and emerging technologies, Ben Forsyth.

Commonwealth Bank of Australia has begun a global search for candidates to fill the big hole that will be left by outgoing retail banking services group executive Ross McEwan.

At 1200 AEST on Thursday, the Australian dollar was trading at 99.35 US cents, up from 98.93 US cents on Wednesday.

A CONTROVERSIAL $20 million Scamander residential development has been shelved, with developers saying that banks don't want to invest in Tasmania.

Bank of New Zealand, the biggest issuer of covered bonds among the nation's banks, says it is done selling the debt for now and may not return to the market for two years.

Good revenue and deposit growth were the key drivers behind a 36 per cent boost in the BNZ's cash earnings in the past year, says its chief executive, Andrew Thorburn.

National Australia Bank the country's top lender by assets, posted record first half earnings as higher trading, fee income and a rising share of the mortgage market countered losses in its UK operations.

NATIONAL Australia Bank shares are relatively steady after it reported a six per cent rise in its first half cash profit to $2.83 billion.

May 10 - Standard & Poor's Ratings Services said today that its ratings on National Australia Bank Ltd.

BNZ's charge for bad and doubtful debts fell to $34 million in the six months ended March 31.

National Australia Bank Ltd. followed its peers in reporting record cash earnings for the first half of fiscal 2012, even as ballooning impairments from its embattled U.K. banks dragged on profits.

National Australia Bank said first-half cash profit rose 4.8 per cent to a record $2.83 billion as the bank counted the cost of its struggling operations in Britain and joined rivals in reporting thinner margins on its loans.

NAB has categorized its operations under eight reportable segments, namely, Business Banking, Personal Banking, Wholesale Banking, MLC & NAB Wealth, NZ Banking, UK Banking, Specialised Group Assets, and Great Western Bank .

Australia's fund managers are stepping in to meet the growing demand for commercial loans left by the deleveraging of the banking sector.

National Australia Bank, owner of the Bank of New Zealand, is expected to report a lift in its first half earnings on Thursday, although the result will contain some red ink.