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National Australia Bank Limited (ASX:NAB) has posted cash earnings of $1.4 billion for the third quarter of its 2011 financial year, up 27 per cent from the year before.
NAB says it achieved the result through revenue growth, cost management and a decline in the charge for bad and doubtful debts.
In the period CEO Cameron Clyne says NAB’s credit quality stabilised, leading assets quality indicators improved and balance sheet ratios continued to strengthen.
The result puts NAB on track to deliver a record full year result for the twelve months to September 30, 2011.
In the first half of its 2011 financial year NAB generated a net profit of $2.4 billion.
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