🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

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
-

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

*

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.