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BRIEF-National Australia Bank posts 6.5 pct rise in HY cash earnings

Published 05/05/2016, 08:37 am
© Reuters.  BRIEF-National Australia Bank posts 6.5 pct rise in HY cash earnings
NAB
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May 5 (Reuters) - National Australia Bank Ltd NAB.AX :

* Simpler, more focused business, with improving momentum NAB.AX

* HY cash earnings of $3.31 billion, up 6.5%

* HY statutory net loss of $1.74 billion

* HY charge for bad and doubtful debts (B&DDS) was $375 million, down $24

million

* Says CET1 ratio of 9.7% as at end March 2016

* On a cash earnings basis HY revenue increased 3.3%

* Says as at March 31, 2016 ratio of collective provision to credit risk

weighted assets was 0.98 percent

* "Group's CET1 target ratio remains between 8.75%-9.25%"

* Says interim dividend unchanged at 99 cents per share fully franked

* Long term partnership and sale of 80% of life insurance business to Nippon

Life is progressing well

* Long term partnership and sale of 80% of life insurance business to Nippon

Life remains on track for finalisation in H2 of calendar year 2016

* Source text for Eikon ID:nASX46QpVN

*

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