...November 8, 2021 SYDNEY (S&P Global Ratings) Nov. 9, 2021--National Australia Bank Ltd. (NAB; ##-/Stable/A-1+) stands to benefit from a more positive economic outlook as growth momentum resumed in the second half of fiscal 2021, S&P Global Ratings said today. The bank achieved above-system growth in key markets such as small and midsize enterprise banking and home lending in the second half of fiscal 2021. The growth in these businesses relative to system reflects improved simplification, digitalization, and automation. NAB's credit losses should ease to pre-COVID-19 levels following the most recent pandemic-related lockdowns in Australia. We believe the recovering economy, falling unemployment, and improved consumer and business sentiment should help temper the risks to the Australian banking system. NAB's fiscal 2021 (ended Sept. 30, 2021) cash earnings of A$6.6 billion (excluding notable one-offs) were up 39% over the previous year, primarily driven by a A$217 million write back of credit...
