NAB reports solid quarter
National Australia Bank (NAB) has reported a solid first quarter with average cash earnings increasing by 12% and cash earnings before tax and credit impairment charges increasing by 13%.
The big banking group reported to the Australian Securities Exchange (ASX) today that revenue increased 8% reflecting higher volumes across housing and business lending, increased fees and commissions and recovery in Markets and Treasury income.
In his commentary on the quarterly result released to the Australian Securities Exchange (ASX), NAB chief executive, Ross McEwan said the company had started the financial year well.
He said the results reflected an ongoing focus on executing the bank’s strategy, making the bank simpler for customers and colleagues.
McEwan noted disruptions to supply chains and labour markets caused by the recent spread of Omicron which had presented challenges for some of NAB’s customers.
“While this creates uncertainty, we remain optimistic about the outlook for Australia and New Zealand and are well positioned to continue to grow with a strong balance sheet and disciplined execution of a clear strategy.
and those currently on the register will be soon replaced by an AI Adviser hope these advisers have got their…
The framing here is absurd—super funds didn’t “spend” this money; Australians did, choosing to invest in financial advice to safeguard…
Define ‘advice expense’ please Mike, doesn’t sound like a trustee expense to me. Do you mean payments by trustees to…
What a heap of “hog wag” that’s about as strong a word on can use here and not get kicked…
Because it is an attempt of the corrupt union funds to deflect the focus on the over $250 million they…