Our banks have much better quality earnings than banks overseas.
Much less competition, due to 4 pillars
Greater ability to charge fees
Full recourse lending on residential mortgages
wider spreads on loans/deposits
(On the flip side, this means that as customers of banks here, we're getting ripped off, big time!)
That all explains the higher multiples, they're quite justified. The actual $$ earnings are massive, and primarily domestic/NZ, even for NAB. The US and UK exposures, even for NAB are just a drop in the bucket.
On any rational analysis, all banks, but NAB in particular is severely oversold.
Nevertheless, I don't doubt that sentiment will drive it even lower.
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Last
$38.25 |
Change
-0.940(2.40%) |
Mkt cap ! $117.1B | |||
| Open | High | Low | Value | Volume |
| $39.02 | $39.09 | $38.03 | $100.9M | 2.635M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 35 | $38.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.28 | 300 | 1 |
View Market Depth
| Last trade - 16.10pm 21/07/2025 (20 minute delay) ? |
| NAB (ASX) Chart |