What happened with ASX 200 banks stocks NAB and CBA in April?

Buying ANZ, NAB, Westpac or CBA shares? Here's what happened with the big four banks in April.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published May 3, 9:00 am AEST

The S&P/ASX 200 Index (ASX: XJO) gained 2.2% in April, with only one of the big four ASX 200 bank stocks outperforming those returns.

The best performing of the big four Aussie banks, and the only one to beat the benchmark was Commonwealth Bank of Australia (ASX: CBA). CBA shares closed on 30 April trading for $173.66, up 3.6% from the 31 March close.

ANZ Group Holdings Ltd (ASX: ANZ) shares also finished April in the green. ANZ shares rounded out April trading for $36.65 apiece, up 1.9% in the month just past.

Turning to the laggards, Westpac Banking Corp (ASX: WBC) slipped 2.5% in April to end the month at $38.50 each.

And National Australia Bank Ltd (ASX: NAB) trailed the pack. Shares in the ASX 200 bank stock closed April trading for $39.88 each down, down 3.8% for the month.

A man sprawls on the grass reaching out to touch four piggy banks, lined up in a row. — Image source: Getty Images

What moved the ASX 200 bank stocks in April?

There was no price sensitive news out from CBA in April. Yet Australia's biggest bank outperformed despite a number of brokers reaffirming their concerns over CBA's lofty valuation. Amid ongoing global uncertainty, investors may find some comfort from CBA's market leading business.

There was also no fresh news out from ANZ, with the ASX 200 bank stock reporting its half-year results on 1 May.

Westpac did release a trading update on 14 April ahead of its half year results release, scheduled for 5 May.

Westpac shares closed down 2.6% on the day after detailing items that will impact those half-year results.

Investors were reaching for their sell buttons after Westpac revealed it expects to see a $75 million decline in its reported net profit after tax (NPAT). Profits will take a hit from transaction costs relating to the sale of Westpac's RAMS mortgage portfolio.

Management expects the sale to be completed in the second half of 2026.

On the positive side of the ledger, Westpac reported lending growth of 4% and deposit growth of 3% for the half.

Investors also heard from NAB in the month just past

What about NAB shares?

On 20 April, the ASX 200 bank stock released an operational update ahead of its own half-year results release, scheduled for 4 May.

NAB shares closed down 3.6% on the day after management said that increased market volatility, driven by the conflict in the Middle East, has seen the big four bank review its credit provisioning and capital settings.

Noting that Australia's agriculture, transport, and manufacturing sectors are being particularly impacted, NAB reported it will book a $706 million credit impairment charge for H1 2026.

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.