News: NAB NAB Posts Qtrly Cash Earnings Of A$2.15 Bln

Feb 16 (Reuters) - National Australia Bank Ltd (NAB) :

• CET1 RATIO OF 11.3% AS AT QUARTER-END
• QTRLY STATUTORY NET PROFIT A$2.05 BILLION VERSUS A$1.80 BILLION REPORTED A YEAR AGO
• QTRLY CASH EARNINGS A$2.15 BILLION VERSUS A$1.80 BILLION REPORTED A YEAR AGO
• QTRLY NET INTEREST MARGIN ROSE 12 BASIS POINTS (BPS) TO 1.79%
• LENDING AND DEPOSITS BOTH INCREASED BY 1% OVER DECEMBER QUARTER INCLUDING ABOVE SYSTEM GROWTH IN AUSTRALIAN SME BUSINESS LENDING
• QTRLY EXPENSES ROSE 4%, OR 3% EXCLUDING THE CITI CONSUMER BUSINESS
• QTRLY CREDIT IMPAIRMENT CHARGE (CIC) WAS A$158 MILLION REFLECTING IMPACT OF LOWER HOUSE PRICES AND BUSINESS LENDING VOLUME GROWTH
• HIGHER INTEREST RATE ENVIRONMENT CAUSING ECONOMIC GROWTH AND HOUSE PRICES TO SOFTEN, AND LOAN REPAYMENTS TO INCREASE
• CAPITAL AND PROVISIONING REMAIN STRONG, WELL ADVANCED ON FY23 TERM WHOLESALE FUNDING TASK WITH A$20 BILLION ISSUED BY 10 FEBRUARY
• QTRLY RATIO OF 90+ DAYS PAST DUE AND GROSS IMPAIRED ASSETS TO GROSS LOANS AND ACCEPTANCES DECREASED 4 BPS TO 0.62%
• BUSINESS IS IN GOOD SHAPE FOR THIS ENVIRONMENT
• CAPITAL AND PROVISIONING REMAIN STRONG AND WE ARE WELL ADVANCED ON OUR FY23 TERM
• QTRLY RATIO OF COLLECTIVE PROVISIONS TO CREDIT RISK WEIGHTED ASSETS INCREASED 2 BPS TO 1.33% , COMPARED WITH SEPTEMBER 2022
• WHOLESALE FUNDING TASK WITH A$20 BILLION ISSUED BY 10 FEBRUARY
• TARGET PRODUCTIVITY BENEFITS OF APPROXIMATELY A$400 MILLION IN FY23
• QTRLY CONTINUED IMPROVEMENT ACROSS AUSTRALIAN HOME LOAN PORTFOLIO
• QTRLY CONTINUED LOW LEVEL OF IMPAIRED ASSETS IN BUSINESS LENDING PORTFOLIO