NAB Logs Qtrly Unaudited Cash Earnings Of A$1.75 Billion
Aug 16 (Reuters) -National Australia Bank NAB.AX:
QTRLY UNAUDITED CASH EARNINGS A$1.75 BILLION
AS AT JUNE 30, CET1 RATIO 12.6%
QTRLY NET INTEREST MARGIN WAS STABLE
QTRLY CREDIT IMPAIRMENT CHARGE A$118 MILLION
CONTINUE TO TARGET PRODUCTIVITY SAVINGS OF APPROXIMATELY A$400 MILLION IN FY24
QUARTER-END RATIO OF NON-PERFORMING EXPOSURES TO GROSS LOANS AND ACCEPTANCES 1.31%
ECONOMIC ENVIRONMENT, INCLUDING PERSISTENT INFLATIONARY PRESSURES, IS CHALLENGING FOR OUR CUSTOMERS
AS AT QUARTER END, RATIO OF COLLECTIVE PROVISIONS TO CREDIT RISK WEIGHTED ASSETS INCREASED BY 4 BPS TO 1.51%
WHILE MOST CUSTOMERS ARE PROVING RESILIENT, NOT UNEXPECTEDLY WE HAVE SEEN ASSET QUALITY DETERIORATE FURTHER IN 3Q24
LIQUIDITY AND COLLECTIVE PROVISION COVERAGE ARE HEALTHY
CAPITAL REMAINED STRONG OVER QUARTER
COST GROWTH IN FY24 TO BE LOWER THAN FY23
Further company coverage: NAB.AX
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