The big four lender released its half-year results ahead of schedule on Monday morning, with profits hit hard by $2.14 billion in charges from fallout from the coronavirus.
National Australia Bank's profits have plunged by half, as the bank slashed its interim dividend by more than 60 per cent and said it would raise $3.5 billion in new equity.The big four lender released its half-year results ahead of schedule on Monday morning, with profits hit hard by $2.14 billion in provisions reflecting fallout from the coronavirus crisis.
NAB, which had its shares put in a trading halt, said its cash profit for the six months to March was $1.44 billion, a decline of 52 per cent compared with the same half last year. The bank will pay an interim dividend of 30 cents a share, down from 83¢, and it is planning to raise $3.5 billion in equity through an institutional placement and share purchase plan.capital, funding and liquidity significantly strengthened over recent years.
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