Why is National Australia Bank stock sliding today?
National Australia Bank's shares plummeted 4.1% to A$39.67 following the bank's third-quarter 2026 trading update. The lender's disappointing home loan applications, which dropped 15% compared to the previous quarter, overshadowed its improved earnings and caused investor concern. Despite a 2% increase in unaudited cash earnings to A$1.83 billion and a 32% surge in statutory net profit to A$1.81 billion, the bank's cash earnings were still below analyst expectations.
Positive aspects, such as a 2% rise in Australian business lending and a CET1 capital ratio of 11.93%, were not enough to alleviate the market's apprehension. Consequently, NAB contributed to the decline of the broader Australian stock index, which fell 0.5%.
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