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BRIEF-National Australia Bank Ltd Says Q3 Cash Earnings Down 3 Pct

Published 14/08/2018, 08:49 am
© Reuters.  BRIEF-National Australia Bank Ltd Says Q3 Cash Earnings Down 3 Pct
NAB
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Aug 14 (Reuters) - National Australia Bank Ltd NAB.AX :

* Q3 CASH EARNINGS COMPARED TO THE PRIOR CORRESPONDING PERIOD WERE DOWN 3 PCT

* Q3 EXPENSES ROSE 2 CPT

* Q3 CREDIT IMPAIRMENT CHARGES ROSE 9 PCT TO $203 MILLION AND INCLUDED $25 MILLION OF ADDITIONAL COLLECTIVE PROVISIONS

* AS AT JUNE 30, GROUP CET1 RATIO 9.7 PCT PERCENT

* Q3 REVENUE UP 1 PCT

* Q3 NET INTEREST MARGIN "DECLINED SLIGHTLY"

* EXPECTS TO RECOGNISE ADDITIONAL PROVISIONS IN THE 2H18 RESULT

* ADDITIONAL PROVISION COSTS WILL BE EXCLUDED FROM THE EXPENSE GROWTH GUIDANCE OF 5-8 PCT FOR FY18

* "ROYAL COMMISSION IS CHALLENGING US WITH ITS FOCUS ON WHERE WE HAVE LET CUSTOMERS DOWN"

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