Bulletin: National Australia Bank's Lending Volumes And Margins Buoy Credit Strength

This report does not constitute a rating action. MELBOURNE (S&P Global Ratings) Nov. 6, 2025--National Australia Bank Ltd. (NAB) will maintain its robust credit standing, supported by ongoing lending growth, and higher net interest margins. NAB, one of Australia's four major lenders, today announced flat cash earnings of A$7.1 billion for the 12 months ended Sept. 30, 2025, compared with the previous year. The bank's Australian lending grew 6.9%, largely in line with overall growth of Australia's banking system. Also supporting the results was an 8 basis point (bp) increase in the bank's net interest margin to 1.78% in the six months ended Sept. 30, 2025, which benefited from its replicating portfolio. Factors that weighed on results were higher impairment

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