National Australia Bank Ltd chief executive John Stewart will meet some of its largest institutional shareholders over the next few days to personally explain last week's profit downgrade, the Australian Financial Review said.
The meetings follow complaints about a lack of detail in the announcement last Wednesday, the paper said.
Meanwhile, Mr Stewart will address staff in Sydney today after talking to staff in Brisbane yesterday.
NAB stunned the market when it said cash earnings before significant items for the six months to September 30 are expected to be 10 to 15 per cent lower than the first half result of $1.85 billion. advertisement
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Since that announcement, around $4 billion has been wiped off its market capitalisation as the share price went into a downward spiral.
NAB shares hit a low of $27.96 yesterday before closing 34 cents or 1.2 per cent weaker
it might fall a lot more buy then could be a rate rise coming that will really sink the boot in the bank selling is across the board
9/11, page-3
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Last
$38.50 |
Change
0.550(1.45%) |
Mkt cap ! $118.6B | |||
| Open | High | Low | Value | Volume |
| $38.29 | $38.61 | $38.21 | $185.4M | 4.817M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 864 | $38.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.51 | 4000 | 1 |
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| Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
| NAB (ASX) Chart |