National Australia Bank
| National Australia Bank Ltd.
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | AU000000NAB4 |
| founding | June 23, 1893 |
| Seat | Melbourne , Australia |
| management | John Stewart ( CEO ) |
| Number of employees | 39,048 |
| Branch | Banking, finance |
| Website | National Australia Bank |
The National Australia Bank Ltd. ( NAB ), based in Melbourne, is the fourth largest bank in Australia and the 52nd largest bank in the world in terms of assets under management (as of September 30, 2017). In November 2014, NAB operated 1,590 branches and service centers and 4,412 ATMs in Australia, New Zealand and Asia serving 12.7 million customers.
It is listed in the two most important share indices in Australia, the S & P / ASX 50 and the All Ordinaries .
history
It was founded in 1893 as National Bank Limited . National Australia Bank emerged as the National Commercial Banking Corporation of Australia Limited in 1982 through the merger of the National Bank of Australasia and the Commercial Banking Company of Sydney . The resulting company was later renamed National Australia Bank Limited.
The expanded financial base of the merged company led to significant offshore expansion in the years that followed. Representative offices were opened in Beijing (1982), Chicago (1982 branch), Dallas (1983), Seoul (1983, 1990 expanded to a branch), San Francisco (1984), Kuala Lumpur (1989), Frankfurt (1985, 1992 closed), Atlanta (1986), Bangkok (1986), Taipei (1986, 1990 expanded into a branch office), Shanghai (1988, 1990 closed), Houston (1989) and New Delhi (1989).
In 1987 National Australia Bank bought Clydesdale Bank (Scotland) and Northern Bank ( Northern Ireland and Republic of Ireland ) from the UK's Midland Bank . It has renamed the Northern Bank branches in Ireland to the National Irish Bank, replacing the logos of both banks with those of Midland Bank. In 1990 NAB bought Yorkshire Bank (England and Wales).
Another acquisition was the Bank of New Zealand in 1992, which at that time had a market share of around 26% in the New Zealand market, and the Michigan National Bank in the USA in 1995. NAB previously had its business in the USA streamlined and closed its Atlanta, Chicago, Dallas, Houston, and San Francisco offices in 1991.
This phase of expansion ended in 1997 with the acquisition of HomeSide Lending , a leading Florida mortgage lender , and the acquisition of MLC Limited in 2000, one of the largest mergers in Australian corporate history.
The NAB was in a difficult phase in the period 2000–2005. In 2000, NAB sold Michigan National Bank to Dutch bank ABN AMRO . In 2001, NAB sold HomeSide's operating assets to Washington Mutual , the largest US savings and loan company, for $ 1.9 billion .
Web links
Individual evidence
- ^ Banks in Australia. www.relbanks.com, accessed December 16, 2018 .
- ↑ Top 100 Banks in the World. www.relbanks.com, accessed December 16, 2018 .
- ↑ Annual Financial Report 2014. National Australia Bank, accessed December 22, 2018 .