NAB

National Australia Bank’s share price fell 4% from a yearly high of just over $27 after the bank announced it was increasing its ‘economic cycle adjustment on its collective provisions by $250m’, up from $70m. This primarily reflects the third quarter in a row that the UK economy has shrunk, and excludes the additional provisioning for losses expected from the UK commercial real estate portfolio announced earlier this year. Without the additional $250m of provisioning NAB would’ve produced cash earnings for the quarter ending 30 September of $1.4bn, flat compared to the previous quarter. NAB also has a 30...

National Australia Bank’s share price fell 4% from a yearly high of just over $27 after the bank announced it was increasing its ‘economic cycle adjustment on its collective provisions by $250m’, up from $70m. This primarily reflects the third quarter in a row that the UK economy has shrunk, and excludes the additional provisioning for losses expected from the UK commercial real estate portfolio announced earlier this year.

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