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    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
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Delayed Australian Stock Exchange  -  12:10 2022-12-09 am EST
30.19 AUD   +0.23%
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Australia's 'Big Four' lenders lift home loan rates in step with central bank

10/04/2022 | 02:08am EST

Oct 4 (Reuters) - Australia's 'Big Four' lenders - Commonwealth Bank of Australia, National Australia Bank , Westpac Banking Corp and Australia and New Zealand Banking Group - will raise home loan rates by 0.25% per annum, the lenders said on Tuesday.

The move is in sync with the country's central bank, which earlier in the day raised its benchmark lending rate by 25 basis points. Australian banks have so far followed the steps of the Reserve Bank of Australia (RBA) in raising borrowing costs.

Bank shares rose after the latest hike by the RBA, which was softer than the 50 basis point increase predicted by a Reuters poll. The central bank said it slowed the pace of monetary tightening as it has already raised rates substantially.

The financial index closed 4.2% higher, marking its best day since June 2020.

The new rates by CBA, ANZ and NAB will come into effect from Oct. 14, while Westpac's rates will be effective Oct. 18.

Westpac, ANZ and CBA also raised interest rates on some of their deposit products, while NAB said its savings and term deposit rates were "continually under review". (Reporting by Harshita Swaminathan in Bengaluru; Editing by Uttaresh.V and Arun Koyyur)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 0.21% 23.64 Delayed Quote.0.00%
COMMONWEALTH BANK OF AUSTRALIA -0.35% 104.98 Delayed Quote.4.31%
NATIONAL AUSTRALIA BANK LIMITED 0.23% 30.19 Delayed Quote.4.44%
WESTPAC BANKING CORPORATION 0.64% 23.44 Delayed Quote.9.09%
All news about NATIONAL AUSTRALIA BANK LIMITED
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Financials
Sales 2023 21 208 M 14 335 M 14 335 M
Net income 2023 8 083 M 5 463 M 5 463 M
Net Debt 2023 - - -
P/E ratio 2023 12,0x
Yield 2023 5,65%
Capitalization 94 767 M 64 053 M 64 053 M
Capi. / Sales 2023 4,47x
Capi. / Sales 2024 4,33x
Nbr of Employees 35 128
Free-Float 99,3%
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Technical analysis trends NATIONAL AUSTRALIA BANK LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 30,12 AUD
Average target price 31,83 AUD
Spread / Average Target 5,67%
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Managers and Directors
Ross Maxwell McEwan Group CEO, Managing Director & Director
Gary A. Lennon Group Chief Financial Officer
Philip Wayne Chronican Chairman
Patrick C. Wright Head-Technology & Enterprise Operations
Leslie Durno Matheson Group Chief Operating Officer
Sector and Competitors