National Australia Bank
(ASX:NAB) has posted a slight fall in its unaudited, third-quarter cash profit.
In the three months to 30 June 2016, cash profit fell by 3% to $1.6 billion on the back of rising bad debt.
The charge for bad and doubtful debts rose 21% to $228 million, compared with the quarterly average of the first-half ended March 2016.
NAB says this rise in bad debt partly reflected an increase in mining and agriculture collective provision overlay.
The Bank also says the sale of 80% of its life insurance business to Nippon Life remains on track, and should be completed in the second half this calendar year.
