NAB says the outlook for credit quality remains benign but the impact of rising interest rates was offset by higher funding costs, as it reported a $1.8 billion third quarter profit.
National Australia Bank says the outlook for credit quality remains benign but the impact of rising interest rates was offset by higher funding costs, as it reported a $1.8 billion third quarter profit.
“The majority of our customers are well-placed to manage these challenges, including approximately 70 per cent of customer home loan repayments ahead of schedule.”“Balance sheet settings remain strong and we are well advanced on our financial year 2022 term wholesale funding task with $34 billion raised by end June,” he said.
“We have a clear strategy and executing this with discipline is our key priority. We will continue to focus on getting the basics right, managing our bank safely and improving customer and colleague outcomes to deliver sustainable growth and improved shareholder returns,” Mr McEwan said. “There has been no impact on credit impairment charges from changes to assumptions used in the economic adjustment or forward looking adjustments during the quarter,” the bank confirmed.“Excluding markets and treasury, NIM was up slightly reflecting the benefit of a rising interest rate environment, partly offset by home lending competition and higher wholesale funding costs,” NAB said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Haas in demand as European rugby union clubs make big-money offersThe 22-year-old Broncos prop could command up to $1 million on the open market, but no NRL clubs can afford to pay him that.
Read more »
Troubled Newcastle Knights NRL star commits to next big move - realestate.com.auNewcastle Knights NRL player Dave Klemmer and his wife Chloe are on the move it seems, after making a new near-$1.5m commitment to their futures.
Read more »
AusSuper thinks about stake in retirement living group GemLifeSources say AustralianSuper’s investment team took the deal to its investment committee, seeking approval to get serious about cutting a $1 billion-odd cheque for the company.
Read more »
Cost of redeveloping Gabba for 2032 Olympics could top $1bnThe Queensland premier admits the final costs of redeveloping the Gabba for the 2032 Olympics could change from the originally proposed $1 billion spend.
Read more »
AusSuper thinks about stake in retirement living group GemLifeSources say AustralianSuper’s investment team took the deal to its investment committee, seeking approval to get serious about cutting a $1 billion-odd cheque for the company.
Read more »
Letters: Reasons behind China’s rageChina and Taiwan, profits and wages, superannuation disclosure rules, gas exports, Judith Durham, 2026 Commonwealth Games.
Read more »