2009 Shareholder Review
Australia Banking
Highlights
First major bank to abolish overdrawn account fees on personal accounts
Nearly doubled ATM network with new NAB and rediATM alliance
Awarded Business Bank of the Year by CFO Magazine
Achieved top ranking among major banks for business banking customer satisfaction
Australia Banking consists of Retail Banking and Business and Private Banking. Cash earnings fell 5.3% to $2.8 billion while underlying profit was up 16.1% to $5.5 billion, due to robust revenue growth and continued careful cost control. Business and Private Banking's revenue increased 11.3% due to the success of the integrated Financial Solutions (iFS) and specialist banking models. Growth was particularly strong in the Small to Medium Enterprise (SME), agribusiness and health customer segments. Retail Banking's revenue growth was 10.3%. These factors were offset by the increase in provisions for bad and doubtful debts which rose from $603 million to $1.6 billion.
For a detailed overview of Retail Banking, click here.
For a detailed overview of Business & Private Banking,
click here.
