National Australia Bank Q1 profit up 6% at A$1.65b

Sydney

NATIONAL Australia Bank Ltd posted a 6 per cent increase for first-quarter profit on increased mortgage lending and higher markets income.

Unaudited cash profit, which excludes one-time items, climbed to A$1.65 billion (S$1.73 billion) in the three months ended Dec 31 from A$1.55 billion reported a year earlier, the Melbourne-based lender said in a regulatory filing on Thursday. Unaudited net income was A$1.8 billion, up from A$1.4 billion.