NAB 0.21% $37.69 national australia bank limited

Feb 21 (Reuters) - National Australia Bank Ltd (NAB) : QTRLY...

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    Feb 21 (Reuters) - National Australia Bank Ltd (NAB) :

    • QTRLY CASH EARNINGS A$1.80 BILLION VERSUS A$2.15 BILLION REPORTED YEAR AGO
    • QTRLY STATUTORY NET PROFIT A$1.70 BILLION VERSUS A$2.05 BILLION REPORTED YEAR AGO
    • STRONG BALANCE SHEET SETTINGS WERE MAINTAINED OVER THE DECEMBER QUARTER.
    • AS AT QUARTER-END, GROUP CET1 RATIO 12.0%
    • QTRLY NET INTEREST MARGIN WAS SLIGHTLY HIGHER
    • RATIO OF 90+ DAYS PAST DUE AND GROSS IMPAIRED ASSETS TO GROSS LOANS AND ACCEPTANCES WAS STABLE AT 0.75% DURING QUARTER
    • GROUP CET1 RATIO REMAINS ABOVE OUR TARGET RANGE OF 11- 11.5% EVEN AFTER ALLOWING FOR COMPLETION OF OUR CURRENT ON-MARKET SHARE BUY-BACK
    • WHILE ECONOMIC GROWTH HAS SLOWED, THE AUSTRALIAN ECONOMY REMAINS RESILIENT
    • QTRLY CREDIT IMPAIRMENT CHARGE (CIC) WAS A$193 MILLION
    • COMPARED WITH SEPTEMBER 2023, THE RATIO OF COLLECTIVE PROVISIONS TO CREDIT RISK WEIGHTED ASSETS INCREASED 2 BASIS POINTS TO 1.49% DURING QUARTER
    • COLLECTIVE PROVISIONS AS A RATIO OF CREDIT RISK WEIGHTED ASSETS INCREASED DURING QUARTER
    • FOR FY24 WE CONTINUE TO TARGET PRODUCTIVITY SAVINGS OF APPROXIMATELY A$400M
    • FOR FY24 TARGET EXPENSE GROWTH TO BE LOWER THAN FY23 GROWTH OF 5.6%
    • LIQUIDITY COVERAGE RATIO QUARTERLY AVERAGE OF 140% DURING DEC QUARTER
 
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