$S&P/ASX ALL ORDINARIES(XAO.AU)$
@koolgal：$NATIONAL AUSTRALIA BANK LIMITED(NAB.AU)$ has just reported its earnings report yesterday for 3Q2022 and closed 2.9% down to AUD29.81, its worst daily performance since 14 June 2022. This was due to NAB's reports that it incurred higher costs due to AUD 60 to 100 million top up to payroll and customer remediation charges and that its full year costs were expected to grow by 3 to 4%. However on the positive side, NAB's revenue increased 2% with higher volumes partly offset by lower Markets & Treasury Income. The Group CET1 ratio is 11.6%. NAB's Net Profit is AUD1. 85 billion. Cash earnings in 3Q22 rose 3% compared with 1H22. The current dividend yield is 5.6% and with 100% franking the grossed up dividend yield is 8%. NAB's acquisition of Citigroup's Australian consumer business was completed effective 1 June 2022. CEO Ross McEwan said "Our business is in good shape for this evolving environment. Balance Sheet settings remain strong." $NATIONAL AUSTRALIA BANK LIMITED(NAB.AU)$ is one of the Big 4 Major Banks in Australia. It is also Australia's biggest business bank, offering a full range of banking and financial services to the consumer, small business and corporate sectors, with significant operations in New Zealand. $NATIONAL AUSTRALIA BANK LIMITED(NAB.AU)$ has a wide moat based on its large network, cost advantages and switching costs. With its laser focus on its profitable domestic banking business, economies of scale, pricing power, strong balance sheet and high credit ratings, $NATIONAL AUSTRALIA BANK LIMITED(NAB.AU)$ will continue to grow exponentially in the future. @Daily_Discussion@TigerStars@CaptainTiger@MillionaireTiger@Tiger_AU@ASX_Stars
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