DEFINITION of 'National Australia Bank - NAB'
One of the major banking entities in Australia. The National Australia Bank (NAB) provides a wide range of financial services, including banking, wealth management and a platform for investment banking. The NAB has locations throughout Australia and New Zealand, as well as the U.K. and the United States. The NAB also has a highly regarded economics research division, which releases the NAB Business Confidence leading indicator every month that is followed by traders worldwide.
BREAKING DOWN 'National Australia Bank - NAB'
The NAB is one of the "big four" banks in Australia, with over 1,800 branches (as of 2009). Clydesdale and Yorkshire banks are its two subsidiaries that operate in the U.K., and it purchased Great Western Bank in the U.S. to gain a foothold here as well. NAB also provides a range of investment and insurance services for institutional clients.