NAB

National Australia Bank has announced its third quarter trading update for the period ending 30 June 2012. Unaudited cash earnings (which excludes previously announced write-offs from the troubled UK banking division) for the quarter were $1.4bn, in line with the same period a year earlier. Revenue actually fell 1%, but we’d be satisfied if the company can maintain profitability in such a weak lending environment without taking on high risks. That’s the longer-term concern given National Australia’s large business loan book and recent grab for market share. Outside the UK bad debts aren’t currently a problem, having fallen 7%...

National Australia Bank has announced its third quarter trading update for the period ending 30 June 2012. Unaudited cash earnings (which excludes previously announced write-offs from the troubled UK banking division) for the quarter were $1.4bn, in line with the same period a year earlier.

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