SYDNEY, Feb 16 (Reuters) - National Australia Bank NAB.AX , the country's No. 1 lender by assets, on Tuesday reported an 8 percent rise in first quarter unaudited cash profit on better lending volumes and stronger results from its wealth division.
NAB posted unaudited cash earnings of A$1.7 billion ($1.21 billion) for the quarter ended Dec. 31. It did not give a year-ago comparison in its trading update, which does not provide as much detail as a full earnings statement.
The ratio of 90-days past due and total impaired assets to gross loans rose to 0.68 percent at end-December from 0.63 at the end of September 2015, reflecting dairy exposures totalling NZ$420 million ($279.34 million).
Earlier this month, NAB successfully spun off its British arm Clydesdale Bank Plc CYBGC.L by listing it on the London stock market after CEO Andrew Thorburn made exiting from the UK a priority. ($1 = 1.4015 Australian dollars) ($1 = 1.5035 New Zealand dollars)