In today’s briefing:
- NAB – Maturing Debt AUD40bn | At Top of Rate Cycle | With High Unseasoned Loans, CRE Loans
NAB – Maturing Debt AUD40bn | At Top of Rate Cycle | With High Unseasoned Loans, CRE Loans
- NAB holds significantly more maturing debt in the coming year than its largest 3 peer banks in Australia and also more than the 3 banks in Singapore, by comparison
- The bank has grown its business loans aggressively, which can see lumpy bad loans in a poor economy, with high unseasoned loans, yet its HoH credit costs were flat
- CRE loans are meaningful at NAB, adding another risk to maturing debt at the top of the rate cycle with what appears to optimistic credit costs in recent results
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