NAB national australia bank limited

News: NAB National Australia Bank Posts FY Cash Earnings Of $3,710 Mln, Down 36.6%

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    Nov 5 (Reuters) - National Australia Bank Ltd (NAB) :

    • ANNOUNCES FINAL DIVIDEND OF 30 CENTS PER SHARE
    • FY NET INTEREST MARGIN DECLINED 1 BASIS POINT TO 1.77%
    • FY NET PROFIT ATTRIBUTABLE TO OWNERS OF NAB DOWN 46.7% TO $2,559 MILLION
    • AT FY-END, CET1 RATIO 11.47%
    • EXPECT MODEST GROWTH IN FY21 EXPENSES (EXCLUDING LARGE NOTABLE ITEMS) OF ABOUT 0-2%
    • FY CREDIT IMPAIRMENT CHARGES INCREASED 201% TO $2,762 MILLION
    • FY CASH EARNINGS $ 3,710M, DOWN 36.6% V FY19
    • ASSET QUALITY IS STARTING TO DETERIORATE GIVEN ECONOMIC DISRUPTIONS CAUSED BY COVID-19
    • WILL CONTINUE TO EXPLORE SOME SMALLER OPPORTUNITIES TO SIMPLIFY PORTFOLIO BY DIVESTING NON-CORE BUSINESSES
    • CONSIDERING OFFER OF NEW ASX LISTED ADDITIONAL TIER 1 CAPITAL SECURITY ALONGSIDE REPAYMENT OF NAB CONVERTIBLE PREFERENCE SHARES II
    • FY20 CHARGES INCLUDE $1,856 MLN OF ADDITIONAL FORWARD LOOKING COLLECTIVE PROVISIONS TO REFLECT POTENTIAL COVID-19 IMPACTS
 
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Last
$43.79
Change
0.250(0.57%)
Mkt cap ! $134.1B
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