Arab Today, arab today national australia bank reveals record profit rise
Last Updated : GMT 14:41:05
Arab Today, arab today
Arab Today, arab today

National Australia Bank reveals record profit rise

Arab Today, arab today

Arab Today, arab today National Australia Bank reveals record profit rise

Sydney - AFP

Australia\'s fourth biggest bank, National Australia Bank (NAB), unveiled a record annual profit of US$5.43 billion Thursday, spurred by growth in its personal and business banking arms. The full-year net result of Aus$5.22 billion for the 12 months to September 30 marked a massive 23.6 percent jump on the previous year, but the bank\'s head warned of economic uncertainty in Australia spawned by Europe\'s debt crisis. \"This is a good result which demonstrated that NAB has continued to strengthen its core banking business,\" the banking group\'s chief executive Cameron Clyne said. Full-year cash earnings, an indicator that analysts follow closely, rose 19.2 percent to Aus$5.5 billion, an increase that Clyne said reflected the robustness of NAB\'s business and personal banking divisions. The bank increased the value of its consumer loans by 19 percent to Aus$130.5 billion even though demand for loans was weak due to economic uncertainty, while the value of business loans rose to Aus$60.2 billion. The bank\'s results were also boosted by a decrease in its bad debt charges as it recovered from the after-effects of the 2008 financial crisis. But costs went up due to competition for retail deposits and a \"continued\" increase in wholesale funding costs, the bank chief said. Europe\'s sovereign debt crisis, which is sending jitters through global markets as investors fear possible defaults, could raise risk premiums in the debt markets, Clyne said. That could in turn affect Australian banks\' cost of funding and ultimately, profitability. \"It\'s hard to predict, there are a lot of concerns about what\'s happening around the world, but we still do maintain that Australia is one of the strongest economies and has a lot of potential for upside. Which one outweighs the other, it\'s a little hard to say,\" he said. NAB will pay a final dividend of Aus$0.88 dollars per share, taking its total dividend payout to Aus$1.72 for the year. Its shares were unmoved from Wednesday\'s close of $24.95 due to a system-wide outage of the Australian Stock Exchange for technical reasons.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today national australia bank reveals record profit rise Arab Today, arab today national australia bank reveals record profit rise

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday