Rising bad debts weigh down National Australia Bank's profit
Q3 earnings fall 3% as the bank joins two other lenders in increasing provisions for bad loans
Tue, Aug 16, 2016 - 5:50 AM
National Australia Bank's shares fall 1.3 per cent at the opening in Sydney on Monday. They have lost 8 per cent this year, compared with a 4.3 per cent advance for the benchmark S&P/ASX 200 Index and a 9.5 per cent decline for an index of bank shares.
NATIONAL Australia Bank's (NAB) third-quarter profit fell 3 per cent amid rising expenses for bad debts and provisions for mining and agricultural loans, rounding off the most challenging reporting season for the nation's lenders in six years.