Economic news
Australia’s NAB third-quarter cash profit rises nearly 6%
2022.08.09 01:41
FILE PHOTO: The logo of the National Australia Bank is displayed in central Sydney, Australia, August 4, 2017. REUTERS/David Gray
(Reuters) – National Australia Bank (OTC:NABZY) Ltd on Tuesday reported an almost 6% rise in third-quarter cash profit as rising interest rates helped improve its margins.
Cash profit at Australia’s second-largest lender was A$1.80 billion ($1.26 billion) for the quarter ended June 30, compared with A$1.70 billion a year ago. The figure was in-line with a Morgan Stanley (NYSE:MS) estimate of A$1.80 billion.
($1 = 1.4325 Australian dollars)
