Sydney, Feb 8, 2026, 16:46 AEDT — Market’s final bell has sounded.
- National Australia Bank ended Friday’s session 1.6% lower, closing at A$43.36.
- Investors are sizing up how higher rates might help bank margins, but they’re also eyeing the pressure mounting on borrowers.
- Keep an eye on CBA’s results dropping Feb 11. Westpac follows with its quarterly update on Feb 13, then NAB steps in with its own update Feb 18—dates that could drive moves.
National Australia Bank closed out Friday at A$43.36, falling 1.6%. Traders will be watching the stock again on Monday, once the ASX opens, following the broader selloff. 1
The clock’s ticking. Australian bank stocks face a packed stretch of sector updates, right as the rate picture changes and markets get volatile.
Higher rates can boost earnings for NAB and its peers by widening the net interest margin—the gap between what banks make on loans versus what they pay out on deposits. But that same rate environment pressures households and small firms, pushing up the risk of missed payments and mounting credit losses.
The S&P/ASX 200 dropped roughly 2% by the close on Friday, logging its sharpest fall in nearly a year, according to ABC, with banks leading the declines. “Panic is spreading,” Michael McCarthy of MooMoo Australia told ABC, as global markets tumbled in tandem. 2
Interest rates are lurking behind the sentiment shift. On Feb. 3, the Reserve Bank of Australia bumped up its cash rate by 25 basis points to 3.85%—the first upward move in two years. Governor Michele Bullock told reporters she couldn’t say whether this hike signals a “cycle.” National Australia Bank’s chief economist, Sally Auld, expects another 25-bp rise in May. 3
NAB wasted no time—it’s bumping variable home loan rates up by 0.25% a year, starting Feb. 13, the bank said. 4
Competitors are following suit. Commonwealth Bank, Westpac, and ANZ each announced 25-basis-point hikes to their variable mortgage rates after the RBA’s decision, according to Reuters. Depending on the lender, those increases will hit borrowers between Feb. 13 and Feb. 17. 5
Fresh numbers are coming from the banks. Commonwealth Bank has locked in Feb. 11 for its half-year results, and both CEO Matt Comyn and CFO Alan Docherty will update investors later that morning. Traders watching NAB and the sector will be tracking those signals closely. 6
Westpac has its first-quarter 2026 update slated for release on Friday, Feb. 13. The accompanying call kicks off at 8 a.m. 7
NAB is due to deliver its first-quarter trading update on Feb. 18, the group’s financial calendar shows. Investors will be watching for any signals on loan growth, funding costs, and movement in bad-debt charges. 8
There’s a snag here. Should banks find themselves paying up for deposits faster than they can boost loan rates, those hard-won margin gains could evaporate. And once higher repayments start hurting borrowers, credit quality can deteriorate fast—a risk that sometimes drags bank stocks even when rates are heading up.
