- SYDNEY, AAP – National Australia Bank has reported a 94 per cent jump in first-half earnings to $3.3 billion after improving economic conditions allowed the winding back of some provisions.Statutory net profit for the six months to March 31 more than doubled to $3.2 billion, while operating revenue dipped 1.5 per cent to $8.26 billion.
Like other major Australian banks, NAB’s profit plunged last year after it was forced to make higher provisions to cover a hit from the COVID-19 disruptions.
The lender will pay a first-half dividend of 60 cents a share, double the amount it paid for the same period last year when it was forced to slash the payout due to economic uncertainty.
NAB nearly doubles H1 cash profit
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