NAB (ASX:NAB) has released their first-half profit and show in the six months to March it rose 4.3 per cent to $2.7 billion compared to the same period a year ago.
The bank has decided to slash dividends by 16 per cent from 99 cents a share to 83 cents.
This is mainly due to compensation payouts.
The bank has put aside $525 million in customer remediation costs.
Cash earnings rose 7 per cent to $2.95 billion.
Shares in NAB (ASX:NAB) closed 1.7 per cent higher at $25.78 yesterday.