NAB (National Australia Bank)

30 March 2025

🧠 Business Model (Expanded) NAB is one of Australia’s Big Four banks, with core operations across: • Retail banking • Business and SME lending • Institutional finance • Agribusiness (unique niche)

💰 Financials (FY23) • Net Profit: AUD $7.7B • Net Interest Margin: ~1.8% • CET1: ~12.2%

🧩 Strategy (Expanded) • Digital transformation (Ubank, mobile-first) • SME focus vs peers’ mortgage obsession • Partnerships with fintechs & startup accelerators

⚠️ Risks • Mortgage competition from neobanks • Housing market sensitivity • Limited global presence vs Macquarie

🧠 Founder POV NAB proves that you can be big and still build for the little guy — if you stay sharp on product.

⚖️ Takeaway Size matters less than clarity of focus.

📎 Disclaimer: Not investment advice.