National Australia Bank’s half-year profit rose 1 per cent on the same period a year ago, just ahead of market expectations, with the bank showing resilience in the face of tough competition in mortgages and business lending.
Cash earnings of $3.6 billion for the six months to the end of March were well received by the market with NAB shares rising 4 per cent in early trade on Wednesday, recovering some lost ground from earlier in the week. NAB said it would pay an 85¢ per share interim dividend.
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