Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback - S&P Global Ratings’ Credit Research

Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback

Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback - S&P Global Ratings’ Credit Research
Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback
Published May 01, 2024
2 pages (1152 words) — Published May 01, 2024
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About This Report

  
Abstract:

MELBOURNE (S&P Global Ratings) May 2, 2024--National Australia Bank Ltd. (NAB) should maintain its robust credit profile despite a A$1.5 billion share buyback. NAB (AA-/Stable/A-1+), one of Australia's four major lenders, today announced a 3.1% decrease in its cash earnings for the six months ended March 31, 2024, compared with the prior half. The results were solid and in line with our expectations. NAB's capital levels should remain strong in the next two years. Following the completion of the remaining A$200 million of its A$1.5 billion share buyback announced in August 2023 and the additional A$1.5 billion announced today, its pro forma common equity Tier 1 (CET1) ratio will be 11.75% as of March 31, 2024. This remains well above

  
Brief Excerpt:

...This report does not constitute a rating action. AUSTRALIA S&P Global Ratings Australia Pty Ltd holds Australian financial services license number 337565 under the Corporations Act 2001. S&P Global Ratings' credit ratings and related research are not intended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act)....

  
Report Type:

Bulletin

Ticker
NAB@AU
Issuer
National Australia Bank Ltd.
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Australia
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback" May 01, 2024. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-National-Australia-Bank-s-Credit-Profile-To-Remain-Robust-Despite-A-1-5-Billion-Share-Buyback-3164235>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: National Australia Bank's Credit Profile To Remain Robust Despite A$1.5 Billion Share Buyback May 01, 2024. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-National-Australia-Bank-s-Credit-Profile-To-Remain-Robust-Despite-A-1-5-Billion-Share-Buyback-3164235>
  
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