National Australia Bank’s Limited
(ASX:NAB) third-quarter cash earnings rose to $1.5 billion, about two per cent above the quarterly average of the lender’s half year result.
On a statutory basis, unaudited net profit for the June quarter was about $1.7 billion.
The lift in profit came on the back of strong momentum in its personal banking arm, but NAB is warning weak confidence is likely to challenge business banking.
The lender says revenue lifted around one per cent reflecting good growth in mortgages and some improvement in customer margin.
CEO Cameron Clyne says NAB is committed to supporting its business customers in the face of challenging conditions and subdued volumes.
