National Australia Bank reports 16% rise in first quarter cash earnings
National Australia Bank reported a 16% rise in quarterly cash earnings on Wednesday as lending volumes grew. Business and housing loan volumes rose sharply.
Insights:
National Australia Bank Limited reported a 16 percent year-on-year rise in first-quarter cash earnings to A$2.02 billion for the quarter ended December 31. The result, which was announced today, was primarily driven by growth in the bank's business and home lending divisions and a 2-basis-point increase in its net interest margin. This performance directly affects the bank's profitability and capital metrics, including its CET1 ratio.
