GENERAL news
AUSTRALIA’S second largest lender, the National Australia Bank’s (NAB) cash earnings dropped by nearly 17% in the December quarter as higher interest rates, cost-of-living...
In a trading update, the country’s second-largest bank said it booked a $1.7 billion unaudited statutory net profit for the period, as cash earnings tumbled by 16.9% on the prior...
“Credit impairment charge (CIC) was $193 million reflecting higher arrears in Australian home lending combined with business lending volume growth,” it said...
The ratio of 90-plus days past due and gross impaired assets to gross loans and acceptances was stable at 0.75%, but this masked an increase in arrears in the Australian home loan...
“While economic growth has slowed, the Australian economy remains resilient and the majority of our customers are faring well,” said NAB’s outgoing CEO Ross McEwan...
“We continue to be optimistic about the outlook and our bank is in good shape as Andrew Irvine transitions to CEO over coming months.”...
Cash earnings before tax and impairment charges were down 3% compared to the second half of the 2023 financial year...
Revenue increased by 1%, driven by its markets and treasury portfolio, and net interest margin was “slightly higher”, but NAB did not say by how much...
That compared to Commonwealth Bank’s figures that showed margins fell six basis points to 1.99% over the first half...
According to the Australian Bureau of Statistics, home lending fell 4.1% in December by number of new loan commitments, although finished higher over...
Minutes released this week showed the Reserve Bank of Australia considered raising interest rates again at this month’s board meeting, as it remains unconvinced that...