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National Australia Bank Posts Q3 Cash Earnings Of A$1.65 Bln

Australian lender National Australia Bank Ltd. (NAUBF.PK,NABZY.PK, NAB.AX) reported that its third-quarter cash earnings were A$1.65 billion. It was up 1% compared with the first-half of 2019 quarterly average. Revenue was up 1% reflecting growth in SME lending and a slightly higher group margin.

"Against the backdrop of a challenging operating environment, including subdued home lending growth, our 3Q19 performance compared with the 1H19 quarterly average is solid, with revenue increasing and costs flat," Philip Chronican, the Chief Executive Officer of NAB.

Net profit for the third-quarter was A$1.70 billion.

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