Скачать или смотреть NAB to take 'decisive action' in the face of coronavirus slowdown

It is essential for NAB’s long term prosperity in the face of the coronavirus crisis for the bank to “take decisive action" and raise $3.5 billion in new capital, according to CEO Ross McEwan.

NAB has released its half-yearly results a week early, revealing the bank has placed its shares into a trading halt.

They are currently paused at $15.76 and the bank is aiming to raise $3 billion as institutional placement and $500 million as a share purchase plan.

NAB reported a 51 per cent fall in its half-year net profit after tax, with its dividend now sitting at 30 cents.

Mr McEwan told Sky News the bank’s decision to cuts it dividend to shareholders was a “balancing act.”

“The underlying results were strong,” he said.

“We did balance off the difference between how much capital we raise but also continuing a dividend.”

“We know it is important, we got 48% of our shareholders are small retail investors and they do rely on that dividend and we also wanted them to actually help us out again with putting more capital into the bank.

“It was a balancing out, we looked at many scenarios and thought this was the best and fairest for all.”

Image: News Corp Australia