MELBOURNE (Standard&Poor's) May 10, 2012--Standard&Poor's Ratings Services said today that its ratings on National Australia Bank Ltd. (NAB; AA-/Stable/A-1+) are unchanged following NAB's results announcement for its first-half ended March 31, 2012. NAB's results are consistent with the bank's market guidance on April 30, 2012, when it also announced its strategic review of its U.K. operations. Cash earnings of A$2.828 billion for the first half were 1.3% ahead of the previous half-year ended Sept. 30, 2011. Materially weaker cash earnings from NAB's U.K. Banking Division were offset by higher earnings from its Institutional Banking Division. Business banking cash earnings of A$1.264 billion for the half year were flat, compared with the prior half year, while personal
