Sign in to comment!



National Australia Bank posts 16 pct rise in half-year profit to $2.67 B, with cut in bad debt

National Australia Bank Ltd., one of Australia's biggest lenders, has posted a 16 percent increase in half-year profit to 2.86 billion Australian dollars ($2.67 billion), helped by a reduction in bad debts and an improving British economy.

The statutory profit for the six months through March announced on Thursday is an increase of AU$390 million from the same period a year earlier.

Cash earnings increased by 8.5 percent, or AU$247 million, to AU$3.15 billion in the latest half year.

The charge for bad debts across its Australian and British operations for the latest half year was AU$528 million — 37 percent less than that for the previous six months and 52 percent lower than for the corresponding period ending March 31, 2013.

See the latest updates on the hottest midterm races from Fox News

Full Elections Coverage →

Keep up with all the 2014 races in

Coverage →