Early Days, but Trump's Victory Looks to Be Positive for Australia's Wide-Moat Major Banks
Elevated volatility hitting global investment markets following the surprise election of Donald Trump as president of the United States doesn’t affect our long-term positive view on the four Australian wide-moat major banks. This view is based on a relatively benign environment for key long-term earnings drivers such as credit growth, net interest margins, fee income, cost control and, most important, bad debt. Following Trump’s victory, we remind investors of the importance of our underlying in...National Australia Bank provides banking services, credit and access card facilities, leasing, housing and general finance, international banking, investment banking, wealth management, funds management, life insurance and custodian, trustee and nominee services. Co.'s division include: Australian Banking, which provides products and services to retail and business customers; National Australia Bank Limited Wealth, which provides superannuation, investment and insurance solutions; and New Zealand Banking, which comprises the Retail, Business, Agribusiness, Corporate and Institutional and Insurance franchises in New Zealand. As of Sept 30 2016, Co. had total assets of A$777.62 billion.
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