National Australia Bank Limited (NAUBF,NABZY,NAB.AX) on Monday reported a decline in net profit for the first half, mainly due to large notable items. However, the company registered an increase in net operating income.
For the six-month period to March, the lender posted a net income of A$2.750 billion, or A$0.89 per share, compared with A$3.407 billion, or A$1.09 per share in the same period last year. Underlying profit was A$4.505 billion, less than A$5.463 billion a year ago.
Large notable items before tax were A$1.347 billion, compared with A$0.000 billion a year ago. Credit impairment charge stood at negative A$706 million as against negative A$348 million last year.
Net operating income was A$10.870 billion, up from A$10.268 billion a year ago, of which net interest income was A$9.163 billion, higher than A$8.445 billion in the previous year.
National Australia Bank will pay an interim dividend of 85 cents per share, franked to 100% at the company tax rate of 30%. The dividend will be paid on July 2 to the shareholders of record as of May 8.
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