NAB’s solid first quarter
National Australia Bank has reported a solid first quarter trading result with first quarter cash earnings up six per cent on the prior corresponding period to $1.65 billion.
The company announced to the Australian Securities Exchange (ASX) today that on a statutory basis, the unaudited net profit attributable to the owners for the December quarter was approximately $1.80 billion.
Commenting on the first quarter trading result, NAB chief executive, Andrew Thorburn described it as a "solid" and a reflection of the group making progress against its strategic priorities.
The bank's commentary also noted that NAB Wealth cash earnings had improved over the quarter, benefitting from higher insurance premiums and stable claims and lapses combined with the impact of higher funds under management.
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