SYDNEY, Feb 16 (Reuters) - National Australia Bank (NAB), the country's No. 1 lender by assets, on Tuesday reported an 8 percent rise in first quarter unaudited cash profit on better lending volumes and stronger results from its wealth division.
NAB posted unaudited cash earnings of A$1.7 billion ($1.21 billion) for the quarter ended Dec. 31. It did not give a year-ago comparison in its trading update, which does not provide as much detail as a full earnings statement.
The ratio of 90-days past due and total impaired assets to gross loans rose to 0.68 percent at end-December from 0.63 at the end of September 2015, reflecting dairy exposures totalling NZ$420 million ($279.34 million).
Earlier this month, NAB successfully spun off its British arm Clydesdale Bank Plc
by listing it on the London stock market after CEO Andrew Thorburn made exiting from the UK a priority. ($1 = 1.4015 Australian dollars)
($1 = 1.5035 New Zealand dollars)
News: National Australia Bank Q1 cash profit up 8 pct
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