National Australia Bank (NAB) has reported an adjusted net profit of A$2.53bn for the first half of the fiscal year 2018, an increase of nearly 1.4% compared to A$2.49bn in the same period last year.

For the period ended 31 March 2018, the banking group’s net operating income stood at A$9.09bn, an increase of 2.4% from A$8.87bn a year ago.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Its net interest income also climbed by 5.5% from A$6.39bn to A$6.75bn on a year-on-year basis.

The bank’s cash earnings before tax and distributions dipped 15.5% to A$3.97bn from A$4.7bn a year earlier.

The underlying profit of the group also slipped to A$4.34bn from A$5.08bn a year ago.

NAB in its earnings statement noted that it paid A$1.4bn taxes which includes income tax, GST, FBT, payroll tax and other relevant taxes borne by the bank in the six months ended 31 March 2018.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

NAB CEO Andrew Thorburn said: “The acceleration of our strategy announced with the Group’s 2017 Full Year Results, including an estimated additional A$1.5 billion investment over three years, is now well underway.

“We are improving the experience of our customers, reshaping our workforce and growing our bank in an environment of rapid technological and regulatory change.”