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Article: NATIONAL AUSTRALIA BANK HANDS DOWN $US1.54BLN NET PROFIT.
- Article from:
- AsiaPulse News
- Article date:
- May 11, 2006
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SYDNEY, May 11 Asia Pulse - The National Australia Bank Ltd (NAB) has handed down a first half net profit of nearly $A2 billion ($US1.55 billion) as its earnings finally recover from the fall-out of its foreign exchange trading scandal.
Australia's biggest bank posted an unexpectedly strong headline result of $A1.99 billion ($US1.54 billion) - the same as the Commonwealth Bank of Australia.
The result was down 27.7 per cent on the prior first half, which had been boosted by a one-off gain of $1.1 billion from the sale of NAB's Irish banks.
Stripping out significant items, NAB's underlying cash earnings rose 11.4 per cent to $1.84 billion in the ...