NAB’s profit beat shows big four are splitting in two
NAB’s better-than-expected December quarter earnings and revenue growth suggest the big four are splitting into a pair of banks with momentum, and two without it.
National Australia Bank chief executive Ross McEwan isn’t the sort of person to get a big head – the Kiwi, who happily admits he flunked accounting at university (twice!), has a well-known self-deprecating streak.
But NAB’s December quarter trading update highlights why there’s always room for humility at Australia’s big four banks.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
