NAB Annual Profit Up 7.6%, Raises Dividend
November 08 2023 - 4:49PM
Dow Jones News
By Alice Uribe
SYDNEY--National Australia Bank said increased lending and
deposits in its business-related divisions helped its annual profit
to increase by 7.6%, with the lender lifting its final dividend by
almost 8%.
The bank said net profit for the 12 months through September
rose to 7.41 billion Australian dollars (US$4.74 billion). Analysts
had expected a full-year net profit of A$7.71 billion, according to
FactSet's consensus estimate.
Cash earnings--a profitability measure tracked closely by
analysts--rose by 8.8% to A$7.73 billion. Directors of the company
raised the final dividend to A$0.84 per share, compared with A$0.78
a year ago.
The group's Common Equity Tier 1 capital ratio was 12.22% at the
end of September, compared with 11.51% the previous year.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
November 08, 2023 16:34 ET (21:34 GMT)
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