National Australia Bank on Track for a Solid 1H17 Profit. AUD 31 FVE Unchanged
We expect National Australia Bank to report a modest 3% increase in first-half fiscal 2017 cash profit to AUD 3.3 billion when interim results are released May 4, 2017. The interim fully franked dividend will likely remain at AUD 99 cents per share--unchanged on the six previous half years. Despite the modest expected profit uplift, we believe this will be a good outcome and our positive long-term view is firmly in place. We are increasingly confident in our above-consensus unchanged fiscal 2017...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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