National Australia Bank (NAB) has reported a 2.9 per cent decrease in net profit after tax for the year ending September 30. While the statutory result declined, the bank highlighted a 1 per cent increase in underlying profit, attributing it to positive momentum in key areas. NAB is one of Australia’s largest financial institutions, providing a range of banking and financial services to individuals and businesses. The company operates across Australia and New Zealand, offering services from personal banking to wealth management.
According to the financial report, cash earnings totalled $7.09 billion, a 0.2 per cent decrease compared to the 2024 financial year. However, revenue saw a modest increase of 1.2 per cent. The board has declared a final dividend of 85 cents per share, fully franked, for shareholders.
Chief Executive Officer Andrew Irvine commented on the results, stating, “We are making good progress on our key priorities of growing business banking, driving deposit growth and strengthening proprietary home lending.” Irvine added that this progress was facilitated by strategic investments in frontline bankers and technology-driven solutions aimed at delivering simpler, faster, and safer outcomes for customers.
NAB reported a 7.4 per cent increase in deposits and a 5.9 per cent rise in gross loans and advances. The bank’s expenses grew by 4.6 per cent, which included $130 million allocated for payroll review and remediation processes.
