FILE NO 1-9945

 

SECURITIES AND EXCHANGE COMMISSION

 

WASHINGTON DC 20549

 


 

FORM 6-K

 

REPORT OF FOREIGN ISSUER

 

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

 

For the month of June 2004

 

National Australia Bank Limited

ACN 004 044 937

(Registrant’s Name)

 

Level 24
500 Bourke Street
MELBOURNE VICTORIA 3000
AUSTRALIA

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F

  ý

Form 40-F

  o

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes

  o

No

  ý

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82

 

 



 

 

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UBS Financial Services Conference “Critical Success Drivers”

 

Mike Carroll,

General Manager Agribusiness

National Australia Bank

 

June 2004

 

[LOGO]

 



 

National has maintained a strong focus on agribusiness for more than a decade and established a leading position

 

Exposure to Primary Industries

 

[CHART]

 

Source: Company Reports & Accounts

 

 

Supporting the growth of Agriculture

 

2



 

In 2000 National created a dedicated business unit:
“Agribusiness Financial Services”

 

                  Focused on primary producers, service providers to agriculture and processors of agricultural produce

 

                  515 dedicated Agribusiness staff

 

                  Working out of 107 locations

 

Agribusiness segment as at Sept 03

 

[CHART]

 


Excludes internal recharges and includes bill fee margins

 

3



 

Since its creation National’s Agribusiness Financial Services has performed strongly

 

Profit before Tax*

 

[CHART]

 


Excludes internal recharges and includes bill fee margins

 

4



 

Leading market share, customer penetration, products per customer & share of wallet

 

Market Share
(Share of Footings)

Customer Penetration
(Share of Customers)

 

 

[CHART]

[CHART]

 

 

 

 

Mean number of Products held per customer

Share of Wallet

 

 

[CHART]

[CHART]

 

Source: TNS Agribusiness Finance Monitor May 2004

 

5



 

Credit quality has been maintained through the “worst drought in 100 years”

 

Non Accrual Loans

 

[CHART]

 

6



 

Some insights into the Agricultural finance market

 

7



 

The agricultural credit system has grown at a CAGR of 9% over the last decade

 

Agricultural Credit System

 

[CHART]

 

Source: APRA

 

8



 

The agribusiness market is consolidating into the hands of large sophisticated family owned enterprises

 

Farm population by turnover

Credit growth by loan size

 

 

[CHART]

[CHART]

 

 

Source: ABARE

Source: APRA

 

9



 

The top 25% of agricultural businesses are responsible for 2/3rds of production & generating competitive returns

 

Farm Wealth Accumulation

 

[CHART]

 

Source: ABARE, IRESS

 

10



 

Critical Success Factors

 

Customer Value Proposition

 

                  People

 

                  Product

 

                  Place

 

                  Promotion

 

                  Process

 

                  Price

 

11



 

People

 

      Relationship management

 

 

 

      Agribusiness specialists

[GRAPHIC]

 

 

      Long term investment in people

 

 

12



 

Product

 

                  Complete product suite

 

                  Tailored credit parameters

 

                  Product innovation

 

Kansas Wheat

 

 

 

USD/mt

 

AUD/mt

 

Jul-04

 

139.00

 

201.50

 

Dec-04

 

143.50

 

211.00

 

Mar-05

 

145.50

 

215.50

 

Jul-05

 

137.50

 

205.50

 

Dec-05

 

137.00

 

206.50

 

Mar-06

 

135.50

 

205.00

 

Jul-06

 

134.00

 

204.50

 

Dec-06

 

135.50

 

207.50

 

Mar-07

 

131.00

 

201.00

 

Basis Pool 2004/05

 

144.50

 

211.50

 

Basis Pool 2005/06

 

144.00

 

205.00

 

 

13



 

Place

 

      Regionally based specialists

 

 

 

      Largest country network

[GRAPHIC]

 

 

      Low cost channels

 

 

14



 

Promotion

 

      People on the ground

 

 

 

      Direct marketing

[GRAPHIC]

 

 

      Productivity groups

 

 

15



 

Process

 

 

Net losses & exposure by industry

      Electronic Business Lending

 

 

 

      Ag Credit Processing Centres

[CHART]

 

 

      Specialist Credit Managers

 

 

16



 

Price

 

      Competitive - not a price leader

 

 

 

      Relationship profitability tools

[GRAPHIC]

 

 

      Balanced score card

 

 

17



 

Immediate priorities

 

18



 

Immediate priorities

 

      Process improvement

costs

 

 

      behavioural scoring, process improvement

 

 

 

 

      Wealth Management

revenue

 

 

      succession planning

 

 

 

 

      off-farm investment

 

 

 

 

      Portfolio construction

costs

revenue

      matching service level to value of relationship

 

 

 

 

      Remuneration

revenue

costs

      “franchising”

 

 

 

 

      Increased risk management services

revenue

 

 

      commodities, weather, yield

 

 

 

 

 

19



 

All the advantages of the niche specialists plus the full product and service range of a major

 

[GRAPHIC]

In creating a specialist Agribusiness division the National has differentiated itself from other major banks, and is able to offer all the advantages of the niche agribusiness specialists

 

20



 

Disclaimer

 

The preceding material is a presentation of general background information about the National’s activities current at the date of the presentation, June 2004. It is information given in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate.

 

21



 

SIGNATURE PAGE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

 

 

 

  NATIONAL AUSTRALIA BANK LIMITED

 

 

 

 

 

 

/s/ Susan E Crook

 

Date:

24 June 2004

Title:

Company Secretary

 

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