Result was disappointing JC - you won't get any arguments about that. One saving point was that the decisions NAB made six months ago to cut the dividend from 99 cents to 83 cents, to lower the percentage paid out as dividends, and to raise capital has off-set a lot of the damage.
There certainly will be further head winds for the big 4 banks - have we seen the biggest hit now - or will there be further shocks? Time will tell if the moves all 4 have made can settle things down.
Big rise yesterday was partly because NAB was oversold on the Westpac result, partly as people chase the 83 cent dividend that will be locked in at the end of next week and, maybe, a bit of confidence that NAB can at least hold the line into the future.
What is your call JC? Can we look forward to a stabilisation (albeit a minimal growth one) into the next few years?
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