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
$39.19 |
Change
0.490(1.27%) |
Mkt cap ! $120.0B | |||
| Open | High | Low | Value | Volume |
| $38.82 | $39.44 | $38.75 | $252.8M | 6.583M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 956 | $39.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.21 | 500 | 1 |
View Market Depth
| Last trade - 16.10pm 18/07/2025 (20 minute delay) ? |
| NAB (ASX) Chart |