The National Australia Bank Limited
(ASX:NAB) has announced a 1% fall in its unaudited cash earnings to $1.6 billion for the December 2016 quarter, compared to the prior corresponding period.
The big bank says on a cash earnings basis its revenue increased 1%, also compared to the prior corresponding period.
The lift was bolstered by growth in lending and higher trading income.
However, NAB says its first quarter expenses were impacted by salary increases on 1 October 2016 and elevated redundancy costs.
National Australia Bank
(ASX:NAB) posted a profit of $357 million on 30 September 2016.
