NAB’s stat net profit hit $1.6b 3Q2017

Company News

by Jessica Amir

NAB (ASX:NAB) has announced its unaudited statutory net profit hit $1.6 billion for the June 2017 quarter.

The top four bank’s revenue firmed 2 percent higher in the third quarter while its unaudited cash earnings also rose 2 percent to $1.7 billion.

NAB’s revenue increased thanks to growth in lending and an improved group net interest margin (NIM).

The bank also saw an improvement in asset quality and a drop in bad and doubtful debt charges of 12 percent to $173 million.

Shares in NAB (ASX:NAB) are trading 1.35 per cent lower to $30.07

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.