NAB’s Share Price Has Been Steadily Rising this Month

It seems that the effects of the banking Royal Commission are wearing off, as shares of National Australia Bank Ltd [ASX:NAB] have been steadily climbing over the past month. The share price of NAB is trading at $28.40 at time of writing. That’s up 3.61% from $27.41 on 2 July.

This comes after a lacklustre 12 months for shareholders, when shares have been slowly decreasing in value.

Is NAB’s share price signalling an end to the royal commission’s impact?

No one can say what effects are yet to be felt from the royal commission on NAB’s share price down the track. It may still hold future revelations that could weigh on the bank’s share price.

Investors should also consider the recent media release, which stated that NAB’s MLC Trustee will switch off plan services fees and refund members.

This means that, MLC’s superannuation trustee, NULLIS, will stop debiting the Plan Service Fee from MLC MasterKey Personal Super (MKPS) member accounts, effective 30 September. Meanwhile MKPS members will be fully refunded for Plan.

Importantly, members will still be able to contact their adviser, or access a range of alternative sources of general advice from MLC online or over the phone, despite not being charged with the fee.

This decision also follows the appointment of new MLC CEO Geoff Lloyd.

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What you can expect from NAB moving forward

Nab has already announced plans to reshape its wealth management portfolio. It will increase focus on core banking operations in Australia and New Zealand.

The company is set to exit the Advice, Platform & Superannuation and Asset Management businesses operating under MLC and other brands.

For further news, investors will have to wait for the 2018 third quarter trading update, set for the morning of 14 August.


Ryan Clarkson-Ledward,
For Money Morning

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Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

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