NAB lifts Q1 cash earnings

Lender's result buoyed by lower bad debts and mortgages growth, but falls short of ANZ's Q1 earnings growth; shares fall.

National Australia Bank (NAB) has lifted its first-quarter cash profit, as lower bad debts and growth in mortgages combined to boost the lender's bottom line.

In the three months to December 31 NAB posted an unaudited cash profit of $1.55 billion, which represents a seven per cent rise on the $1.46 billion recorded in the previous corresponding period.

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