Stocks● Neutral
NAB Q3 Cash Earnings Rise 2% to A$1.83B, Home Lending Softens
NAB's FY26 Q3 cash earnings hit A$1.83B, up 2%. Home lending applications fell 15% QoQ as the market softened. Business lending rose 9% YoY.
Continue with
National Australia Bank Ltd. reported cash earnings of A$1.83 billion for the fiscal third quarter, up 2% from the first half's quarterly average and 4% from a year earlier.
Revenue rose 2% against the first-half quarterly average and 5% compared with the same quarter last year, NAB said. Excluding markets and treasury income, revenue was up 3%.
The top-line growth fed through to statutory net profit, which jumped 32% versus the first-half quarterly average. That swing was partly driven by an 18% decline in expenses. Excluding a large notable item booked in the first half, expenses rose 4%, the bank said. The increase reflected changes to NAB's software capitalisation policy, higher technology costs, seasonally higher salary costs and investment spending. Productivity savings partially offset the rise.
NAB's total lending book reached A$817.4 billion, up 2% quarter on quarter and 6% year on year. Housing lending rose to A$451.4 billion, a 1% quarterly gain and 4% annual increase. Business lending hit A$352.4 billion, up 2% on the quarter and 9% on the year.