Natl Australia Bank (NABZY)

National Australia Bank Limited (or NAB), established in 1858 and Australia's largest bank, offers a diverse array of financial products and services to global individual, corporate, and institutional investors through five wholly-owned operating subsidiaries: Bank of New Zealand Clydesdale Bank, Plc MLC, Ltd. National Australia Financial Management, Ltd. and Yorkshire Bank, Plc. During 2000, NAB substantially expanded funds management and life insurance operations through the acquisition of MLC, and divested its U.S. banking operation, Michigan National. In 2001, NAB exited the U.S. completely to focus on its core markets of Australia, the United Kingdom, and New Zealand. In 2005, NAB sold the Northern Bank and National Irish Bank in the U.K.

Historically, the bank has focused on small and medium-sized enterprises (SMEs) and higher value retail customers. NAB operates through four major business segments: Australia Region (accounting for 61% of 2008 net revenues), UK Region (17%), nabCapital (formerly Institutional Markets & Services at 14%), and New Zealand Region (8%). NAB's banking activities include depository, lending, treasury management, asset finance, credit cards, mortgages, and nominee and custodian services, among others. Wealth Management provides financial planning, private banking, insurance, superannuation, and investment solutions to its clients. At September 30, 2008, total assets stood at A$657 billion (US$527 billion). National Australia Bank's credit ratings are Aa3 by Moody's, AA by Standard and Poor's (upgraded from AA- in February 2007), and AA by Fitch.

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