Analyst Note
| Nathan Zaia |We bring our uncertainty ratings on the major banks back to medium, from high, as we believe COVID-19-related risks have materially subsided.
1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
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We bring our uncertainty ratings on the major banks back to medium, from high, as we believe COVID-19-related risks have materially subsided.
National Australia Bank is the most business-focused of the four major banks, holding the largest share of business loans and the number-three spot in home loans. National Australia Bank is currently the third-largest bank by market capitalisation, with the franchise covering consumer, small business, corporate, and institutional sectors. Under the UBank brand the bank also owns one of Australia’s largest digital-only banks. Offshore operations in New Zealand round out the group.