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Article: NATIONAL AUSTRALIA BANK POSTS 7.1PCT LIFT IN 1H PROFIT.
- Article from:
- AsiaPulse News
- Article date:
- May 10, 2007
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SYDNEY, May 10 Asia Pulse - National Australia Bank Ltd (NAB) has posted a 7.1 per cent lift in first half profit, supported by strong lending growth.
Australia's biggest bank said net profit for the half year to March 31 was $2.136 billion, up from $1.994 billion.
Cash earnings from ongoing operations rose 22.8 per cent to $2.196 billion.
"This is a good all round result," NAB chief executive John Stewart said.
"We increased revenue and lending, with flat operating costs and a stable net interest margin.
"This demonstrates our progress in improving all aspects of our business.
"We have outlined the strategy for ...