NAB Full Year Profit Rises 8.3%
November 08 2022 - 4:55PM
Dow Jones News
By Alice Uribe
SYDNEY--National Australia Bank Ltd. said the rising interest
rate environment helped its annual profit to increase by 8.3%, with
the lender lifting its final dividend by 16%.
The bank said net profit for the 12 months through September
rose to 6.89 billion Australian dollars (US$4.48 billion). Analysts
had expected a full-year net profit of A$7.16 billion, according to
FactSet's consensus estimate.
Cash earnings--a profitability measure tracked closely by
analysts--rose by 8.3% to A$7.10 billion. Directors of the company
raised its final dividend to A$0.78 per share, compared with A$0.67
a year ago.
The group's Common Equity Tier 1 capital ratio was 11.51% at the
end of September, compared with 13% the previous year.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
November 08, 2022 16:40 ET (21:40 GMT)
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