National Australia Bank Essay

3858 Words Oct 19th, 2008 16 Pages
National Australia Bank

Introduction

For any person who first moved to Australia, for education, business or any other purposes, one of their first concerns is always which bank/s are the most trust-worthy. For those who know the answer to this question, a typical response would be, “any of the big four”, which includes the ANZ Bank, Commonwealth Bank of Australia, Westpac Bank, and the National Australia Bank.

National Australia Bank is often mentioned as one of the “Big four” in the banking industry in Australia today. It has one of the highest stock values of all banks in Australia at A$31.07 per share and the company is valued at $72,676,037 as of September 5, 2005 (ASX Quotes, 2005). In the following pages we will take a look
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Industry Analysis

There are many forces at work in every sector and every industry of an economy and the dynamic nature of every industry keeps all the companies operating in each sector on its toes. All of these factors that are at work could potentially changes the fortunes of a company, in this case, the National Australia Bank, who operates within the banking industry.

Banking Industry

Australia’s banks offer a wide range of financial services to individuals and businesses while playing an important role in the economy. According to the Australia Bankers Association Inc homepage, “Banks in Australia value the communities in which they find themselves and are committed to giving something back to those communities. Every year, community organizations receive millions of dollars of direct support from banks in various forms. The industry also has a strong tradition of free education in financial skills and in 2003 embarked on a major new initiative in financial literacy.”

As a major employer in Australia, banks have adopted progressive workplace policies. Staff enjoys excellent pay and flexible workplaces. Banks are vital to the Australian economy, being the third largest contributor to the nation’s Gross Domestic Product. By also acting as major players in Asia-Pacific financial markets, banks help promote Australia in international commerce.

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