Original article by Richard Gluyas
The Australian – Page: 23 : 14-Feb-20
A trading update from National Australia Bank shows that it booked a cash profit of $1.65bn for the first quarter of its financial year. This is one per cent higher than the quarterly average for the second half of fiscal 2019. Revenue increased by less than one per cent for the quarter, while expenses were three per cent higher. Meanwhile, NAB has signalled that the proposed demerger of its MLC wealth management could be postponed due to the challenging business conditions at present.
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MLC LIMITED