(Adds details of buyback)
March 24 (Reuters) - National Australia Bank Ltd (NAB) , the country's No. 2 lender, said on Thursday it will start a further on-market share buyback of up to A$2.5 billion ($1.87 billion), following the completion of a similar repurchase.
The new buyback will reduce the bank's common equity tier 1 (CET1) capital ratio by about 58 basis points towards its target range of 10.75% to 11.25% over time, the company said.
Melbourne-headquartered NAB said it expects to start the buyback after its half-year results announcement on May 5.
NAB said on Thursday it has completed another $2.5 billion on-market buyback, of 86.9 mln ordinary shares of the company.
($1 = 1.3342 Australian dollars)
News: NAB UPDATE 1-Australia's NAB to start new A$2.5 bln share buyback
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Last
$43.54 |
Change
0.520(1.21%) |
Mkt cap ! $133.3B | |||
| Open | High | Low | Value | Volume |
| $43.44 | $43.67 | $43.30 | $149.6M | 3.437M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4251 | $43.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.59 | 30 | 1 |
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| NAB (ASX) Chart |