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Serving Our Customers
The Facts
As at 30 June 2004, customer and financial adviser numbers were:
| Number of customers, globally |
10,799,297 |
| Number of small business customers, globally |
765,701 |
| Number of salaried financial advisers, globally |
730 |
Performance Overview
| Net profit* |
down 19.7% to $3,177 million |
| Cash Earnings (before significant items) |
down 15% to $3,461 million |
| Return on Equity (before significant items) |
15.8%, down from 18.3% |
Diluted cash earnings per share
(before significant items) |
down from 244 cents
to 220 cents |
Dividend History
Share Price Performance
Total Shareholder Returns#
#Annualised, September 2001 to September 2004, except for ASX Financial, which is for October 2001 to September 2004. Total shareholder return measures the growth in the value of the investment in shares, assuming reinvestment of dividends. The calculation does not take into account tax on returns nor franking credits.
Transforming the National
Leadership
Following the appointment in February 2004 of a new Managing Director and Chief Executive Officer for the Group, John Stewart, and a new Chairman, Graham Kraehe, the National underwent substantial changes at the Board and executive level.
The Board has undergone significant transformation during the past year, following the commitment of the Chairman for fundamental Board renewal in the wake of the foreign currency options trading losses incurred by the National. By the end of December 2004, six new, non-executive Directors and two additional executive Directors will have joined the Board, with another six Directors retiring or resigning during the year. The Board now has an extensive balance of skills and experience, with diversity across industries, geographies, backgrounds and cultures. For details of the Board renewal program, see page 8 of this report.
Following the Board renewal, John Stewart announced a new Group Executive Committee that would lead the National’s business and cultural transformation, in conjunction with the Board. Details of the new Group Executive Committee can be found on page 24.
Culture
We introduced our new Corporate Principles to ensure we create and deliver consistently superior value to our customers, shareholders, employees and the communities in which we operate. The new Corporate Principles are underpinned by behaviours that explicitly state what is required to work for the National, and will be standards by which our leaders and upper levels of management will be judged. An overview of the Corporate Principles can be found on page 1 of this report.
Corporate Social Responsibility
This year, the National is producing an externally audited, stand-alone Corporate Social Responsibility Report, benchmarking our economic, social and environmental performance against the Global Reporting Initiative (the global standard for non-financial performance indicators). This is the first time the National has produced such a report, which is available online from December 2004 at www.nabgroup.com For more information on the report, see page 12.
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Our Retail Network (as at 30 September 2004)
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Australia |
New Zealand |
United Kingdom
and Ireland# |
Total |
| Number of branches |
787 |
178 |
614 |
1,579 |
| Other outlets* |
433 |
14 |
192 |
639 |
Number of ATMs**/ADMs
(automated deposit machines) |
1,570 |
405 |
1,180 |
3,155 |
| Post office outlets |
3,026 |
- |
-*** |
3,026 |
| Internet banking |
Yes |
Yes |
Yes |
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| Phone banking |
Yes |
Yes |
Yes |
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Click here to download a PDF of the Concise Annual Report 2004 (2,596KB)
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