May 2 (Reuters) - National Australia Bank (NAB) on Thursday posted an about 13% drop in its first-half cash profit as the country's no. 2 lender grappled with high operating costs and cutthroat competition.
NAB, also the country's top business lender, posted cash earnings of A$3.55 billion ($2.32 billion) for the six months ended March 31, compared with A$4.07 billion a year ago.
That was in line with the Visible Alpha consensus estimate of A$3.55 billion compiled by UBS. ($1 = 1.5330 Australian dollars)
News: NAB National Australia Bank first-half cash earnings fall 13%
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