(Adds other performance metrics, CEO comment) Feb 13 (Reuters)...

(Adds other performance metrics, CEO comment)

Feb 13 (Reuters) - National Australia Bank Ltd (NAB) on Thursday said cash profit in the first-quarter was unchanged, as the bank grapples with record-low interest rates.

In a limited trading update, NAB said benefits from home loan repricing helped cushion the blow of lower rates, resulting in "slightly higher" margins during the quarter.

Sluggish household consumption, lukewarm inflation and rising unemployment forced the Reserve Bank of Australia to cut interest rates three times last year.

Common equity tier 1 (CET1) ratio, a closely watched measure of the bank's spare cash, rose to 10.6% at Dec. 31 from 10.38% at Sept. 30.

The company struggled to meet the new CET1 minimum regulatory requirement of 10.5% by Jan. 1, prompting it to cut its dividend and raise additional capital last year.

NAB's capital levels have come under pressure due to the A$2.07 billion that it had to dole out to compensate aggrieved customers after an inquiry last year that found widespread misconduct in the financial sector.

"Customer-related remediation programs and regulatory compliance investigations are continuing, with potential for additional charges although amounts and timing remain uncertain," Chief Executive Ross McEwan said in a statement.

Australia's third-largest lender by market value posted cash earnings of A$1.65 billion ($1.11 billion) for the three months ended Dec. 31, mirroring the same figure last year.

($1 = 1.4843 Australian dollars)