
MELBOURNE, August 23, 2026, 11:00 AEST – National Australia Bank has seen its market capitalisation drop by A$10 billion in the past week as a decline in the mortgage sector prompts a reset of its valuation by investors.
Monday's 4.62% fall caused 59.7% of the weekly decline. Four further negative closes showed that investors kept cutting exposure after the update.
Recent quarter-on-quarter home-loan application changes reported by the banks.
| Bank | Friday close | Trailing P/E | Dividend yield | Screen signal |
|---|---|---|---|---|
| CBA | A$157.99 | 24.34× | 3.13% | Strong Sell |
| NAB | A$38.17 | 19.88× | 4.45% | Neutral |
| ANZ | A$37.13 | 18.97× | 4.47% | Neutral |
| Westpac | A$33.83 | 16.67× | 4.55% | Sell |
The A$10 billion reset has brought NAB closer to consensus value, not clearly below it. Monday's test is whether business-credit growth and a 4.45% trailing yield can stabilise the shares before weak mortgage demand turns into slower revenue or higher losses.
Catalyst: ASX reopeningSupport: A$38.06Next result: 5 Nov 2026
The catalysts most likely to move markets.
Policy tone can move rates, USD, equities, gold and crypto simultaneously.
A weak final reading or elevated inflation expectations could pressure risk assets.
A surprise versus 58.0 may alter the near-term manufacturing-growth narrative.