National Australia Bank Ltd.‘s (ASX: NAB) shareholders could be in for a shock this morning as the bank prepares for a temporary rename. The NAB share price will be in focus as some of the institution is branded ‘JAB’ in a bid to encourage more Australians to get vaccinated against COVID-19.
The NAB share price finished yesterday’s session trading for $28.40 after falling 1.56% on Thursday.
Let’s dive deeper into NAB’s new look.
NAB shares in focus amid rebrand to JAB
The NAB share price is on watch amidst news the bank is rebranding to encourage more Australians to get jabbed.
The bank’s 3 letter logo will become JAB on TV ads, billboards, online, and at the AFL finals series.
Amidst NAB’s (JAB’s?) media campaign, the bank’s CEO, Ross McEwan, has called for more details on how restrictions will ease once 80% of Australians over 16 are jabbed.
Yesterday, he told the House of Representatives the government must create a ‘vaccine pass’. He envisions Australia’s pass will be like those of some European countries, where residents need proof of vaccination to access restaurants, sporting events, and concerts.
McEwan has also called for an international “vaccine passport” to be ready as soon as Australia’s borders open. As The Motley Fool Australia reported yesterday, the federal government is reportedly already working on a vaccine passport.
Fortunately for the NAB share price, the bank’s boss noted the current lockdowns have been less financially damaging. He said:
As at 31 August, just over a $1.8 billion in lending was on deferral. This compares to $58 billion at the height of the pandemic last year.
However, the impacts on small businesses are continuing. Additionally, McEwan pointed to the impact lockdowns are having on Australians’ mental health.
On a lighter note, current projections forecast 80% of Australians will have had one jab by the end of the month. And, excitingly, 80% of Australians are predicted to be fully vaccinated by mid-November.
The post Own NAB (ASX:NAB) shares? Now you own JAB shares appeared first on The Motley Fool Australia.
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More reading
- Top broker says NAB (ASX:NAB) share price is a buy
- Analysts name 2 ASX dividend shares to buy
- How have ASX bank shares performed during the August 2021 earnings season?
- Why the NAB (ASX:NAB) share price has beaten the ASX200 in the last 3 months
- The Macquarie (ASX:MQG) share price is outperforming the ASX big 4 in the past month
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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