National Australia Bank

National Australia Bank (ASX:NAB) has announced plans to launch its own online share trading platform, Nabtrade, to compete with the existing market players which dominate up to 76 percent of the marketplace:

• CommSec - 49 percent of market and 1.7 million clients
• E*Trade - 18 percent of market

National Australia Bank (ASX:NAB) have announced their full year profit of $5.5 billion: an increase of 19.2 percent. The increased profit was from an increase in mortgage sales, an increase in business lending and a drop in bad debts.

NAB have declared a final dividend, distributing 88 cents per share, fully franked. The dividend was 4 cents higher than the interim dividend and totals $1.72 for the full year dividend.

National Australia Bank (ASX:NAB) appears to be letting go of its UK assets as it held talks last night to sell its Clydesdale and Yorkshire banks to investment group NBNK in a deal valued up to $2.3 billion.

NBNK is understood to be keen on the sale because it will mean a banking licence and funding for its bid for the 632 branches Lloyds Banking Group is selling. NAB on the other hand, will get an exit option from an underperforming market.

National Australia Bank (ASX:NAB) booked quarterly cash earnings of $1.4 billion but said the revenue came amidst challenging conditions.

Although revenue increased in the personal and business banking divisions for the three months to June, the growth was offset by a revenue cut from its wholesale banking unit.

National Australia Bank's (ASX:NAB) is waiting to put an indicative bid for the 632 Lloyds Banking Group branches up for sale. NAB did not want to cave in to pressure when the bid process was stepped up.

Lloyd's chief executive Antonio Horta-Osorio set a Monday deadline for indicative bids, stunning potential bidders. The date was much earlier than expected for the deal that could reach $4.8 billion.

National Australia Bank's (ASX:NAB) New Zealand Division sold its very first covered bonds in Australia, which cut funding costs as the market grows for securities back by assets. The bank priced its $700 million five year debt for 88 basis points, which is more than the swap rate. The sale adds $2.3 billion to securities sold by the three leading banks in Australia this year.

National Australia Bank's (ASX:NAB) subsidiary Ubank is now offering internet-based discounted mortgages. Under the offer, standard variable rate mortgages will be sold at 6.59 percent, above a percentage lower than its rivals. This offer will be available until the end of the month.

Reduced bad debts in business banking and retail caused a 16 percent surge in first half profits for National Australia Bank (ASX:NAB). NAB also reported a $2.43 billion net profit for six months to end of March, up from $2.10 billion the previous year.

National Australia Bank (ASX:NAB) is being sued by a group of shareholders for about $450 million over toxic investments linked to the subprime crisis. The class action suit involves 250 NAB investors who accuse the bank of failing to keep the sharemarket fully informed about a $1.2 billion investment in CDOs (Collateralised Debt Obligations).

Australia's biggest business lender, National Australia Bank (ASX:NAB) have posted a 63 percent rise in net profit for the 12 months to September 30 and 19.3 percent rise in cash earnings from $3.84 billion to $4.58 billion. However, revenue decreased 1.6 percent to $16.6 billion.

National Australia Bank Dividends