SYDNEY, July 17, 2026, 09:07 AEST
- NAB ended the session at A$39.76, gaining 1.25%, as the ASX 200 ended unchanged.
- The stock posted a five-session rise of 0.38%, compared with a 2.53% increase for Commonwealth Bank of Australia ASX:CBA.
- June jobs figures will be released on July 23, with NAB scheduled to provide its next trading update on August 17.
National Australia Bank Limited ASX:NAB ended Thursday up 1.25% at A$39.76. However, the gain was not enough to significantly narrow its performance gap with the other major banks.
NAB edged up 0.38% over five sessions beginning July 10. Commonwealth Bank of Australia ASX:CBA advanced 2.53%. Westpac Banking Corporation ASX:WBC increased 0.25%, and ANZ Group Holdings Limited ASX:ANZ was up 0.44%.
The ASX entered pre-open on Friday morning, with orders lining up but not yet executed. Continuous trading is scheduled to commence at approximately 09:59:45 Sydney time.
On Thursday, 3.48 million NAB shares changed hands, around 38% less than the stock’s quoted average volume. The rally did not see robust volume support.
| Bank | July 16 close | Thursday | July 10–16 | Below 52-week high | Indicative yield |
|---|---|---|---|---|---|
| National Australia Bank ASX:NAB | A$39.76 | rose 1.25% | gained 0.38% | trading 19.6% under the 52-week peak | yielding 4.28% |
| Commonwealth Bank of Australia ASX:CBA | A$173.13 | up 1.84% | up 2.53% | down 6.7% from 52-week high | offering 2.86% yield |
| Westpac Banking Corporation ASX:WBC | A$36.63 | up 0.14% | increased 0.25% | off 15.4% from 52-week high | yield at 4.20% |
| ANZ Group Holdings Limited ASX:ANZ | A$36.21 | rose 0.72% | added 0.44% | 11.7% below its 52-week high | delivering 4.58% yield |
Weekly performance reflects closing prices from July 10 and July 16. High gaps are measured against each stock’s reported 52-week high level. Investing.com Yield figures and 52-week highs are sourced from Google Finance.
The standout figure is the drawdown, with NAB still trading 19.6% under its 52-week high—the deepest drop among the big four. By contrast, CBA is down just 6.7% from its peak.
NAB shows an indicated yield of 4.28%, compared to CBA’s 2.86%. This combination points to income support even without a comprehensive earnings re-rating.
The S&P/ASX 200 finished little changed at 8,840.70 on Thursday. Shares of all four major banks advanced, supporting the argument for a sector-driven shift.
NAB on July 16 released a public statement countering misinformation circulating online regarding its finance products, without including any trading numbers. The bank’s next financial disclosure is set for August 17 with its third-quarter update.
Investors remain focused on May’s half-year results, where cash earnings reached A$2.64 billion, falling short of the A$2.93 billion estimate from Visible Alpha.
The bank recorded A$706 million in credit impairment charges, with approximately A$300 million allocated for potential future bad loans related to war.
Chief Executive Andrew Irvine stated at the time: “It’s very hard to forecast in these times.” NAB maintained its interim dividend at 85 cents. Reuters
Core lending strengthened, with business volumes increasing by over 10% and the margin edging up three basis points to 1.81%. These numbers partly account for the stability close to A$40.
Australia’s June employment figures, a key domestic indicator, are set for release on July 23 at 11:30 AEST. Unemployment stood at 4.4% in May, with employment rising by 40,300.
A robust jobs report may renew worries about interest rates. While increased rates tend to bolster margins, they also add strain for borrowers. Conversely, a weaker reading shifts the dynamic the other way.
NAB is not set to provide a company update next week. The bank’s third-quarter trading update is scheduled for August 17.
Risks continue to be balanced. An increase in oil prices, interest rates, or arrears may drive provisions higher. Conversely, more rapid disinflation could compress margins ahead of any reduction in credit costs.
At present, NAB provides yield rather than a clear re-rating. Friday’s open needs to maintain Thursday’s advance with higher trading volume. This will be the next test.
Related articles: ASX:CBA
