NAB: Q3 Result 2013

National Australia Bank recently announced its unaudited quarterly result for the period ending 30 June 2013 (the company has a 30 September year end). Revenue increased 1% compared to the average of the previous two quarters, after slightly improving margins and increasing mortgage market share to 15.3%. It could be years before we know whether offering cheap home loans has been a sensible long-term strategy, but for now bad debts remain under control having fallen 10% to $489m chiefly due to the UK and business banking divisions. Underlying cash earnings increased from $1.4bn to $1.5bn compared to the same...

National Australia Bank recently announced its unaudited quarterly result for the period ending 30 June 2013 (the company has a 30 September year end). Revenue increased 1% compared to the average of the previous two quarters, after slightly improving margins and increasing mortgage market share to 15.3%. It could be years before we know whether offering cheap home loans has been a sensible long-term strategy, but for now bad debts remain under control having fallen 10% to $489m chiefly due to the UK and business banking divisions.

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