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National Australia Bank Limited’s (ASX:NAB) US bank, Great Western Bancorp, has boosted its FY net profit by nine per cent to $US105 million in the year to the end of September.The bank says gains were made through reducing expenses and improvements in asset quality, highlighting a reduction in adjusted non-interest expenses of $US5.3 million.CEO of Great Western Bancorp, Ken Karels, says the current business environment presents both opportunities and challenges moving into 2015.Mr Karels says lower interest rates continue to drive fierce competition for lending growth.NAB reported a net profit of $5.29 billion in the year to the end of September 2014.
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$43.42 |
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| NAB (ASX) Chart |