Bulletin: National Australia Bank To Grow With Economic Recovery

SYDNEY (S&P Global Ratings) May 5, 2022--National Australia Bank Ltd.'s (NAB) earnings will continue to benefit from Australia's benign economic outlook, S&P Global Ratings said today. NAB (AA-/Stable/A-1+) today announced solid results for the six months ended March 31, 2022, with cash earnings up 4.1% on the prior period. The bank achieved above-system growth in key markets such as business, small and midsize enterprises, and home lending. Underpinning this growth is the bank's investment in simplification, digitization, and automation. NAB's earnings should remain strong relative to international peers. The bank's net interest margin is likely to improve on the back of rising interest rates, in our view. NAB, along with the three other Australian major banks, has already increased its

...May 4, 2022 SYDNEY (S&P Global Ratings) May 5, 2022--National Australia Bank Ltd.'s (NAB) earnings will continue to benefit from Australia's benign economic outlook, S&P Global Ratings said today. NAB (##-/Stable/A-1+) today announced solid results for the six months ended March 31, 2022, with cash earnings up 4.1% on the prior period. The bank achieved above-system growth in key markets such as business, small and midsize enterprises, and home lending. Underpinning this growth is the bank's investment in simplification, digitization, and automation. NAB's earnings should remain strong relative to international peers. The bank's net interest margin is likely to improve on the back of rising interest rates, in our view. NAB, along with the three other Australian major banks, has already increased its variable home lending rates by 25 basis points; this followed a similar increase in the official cash rate announced earlier this week by the Reserve Bank of Australia. Conversely, Australian...

Bulletin