National Australia Bank Q1 cash profit up 8%

Sydney

NATIONAL Australia Bank, the country's No 1 lender by assets, on Tuesday reported an 8 per cent rise in first-quarter unaudited cash profit on better lending volumes and stronger results from its wealth division.

NAB posted unaudited cash earnings of A$1.7 billion (S$1.7 billion) for the quarter ended Dec 31. It did not give a year-ago comparison in its trading update, which does not provide as much detail as a full earnings statement.