NAB announced today that it has completed the full divestment of Great Western Bancorp with the sale of its remaining 28.5% shareholding. Although the sale with crystallise a $396 million loss relative to book value, it will also lift the group’s Common Equity Tier 1 ratio by around 34 basis points. The share price is now down 12% from $39.09 in mid-April to the current $34.37, and the forecast fiscal 2016 dividend yield is a very attractive 5.8% (fully franked). Our banking analyst has NAB as our top pick of the major four banks.