NAB is Australia's biggest business bank, with significant operations in New Zealand.
Wide-moat-rated National Australia Bank’s unaudited cash profit of AUD 1.65 billion for third-quarter fiscal 2018 was broadly in line with our expectations, coming in 1% lower than the average of the two previous quarters and 3% lower than a year ago. Profits fell due to higher operating expenses, softer net interest margins, or NIMs, and modestly higher bad debts. There was nothing in the update that would change our long-term positive and our AUD 32 fair value estimate is unchanged. Our fiscal...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.
We have operations in 27 countries.
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