NAB Records $7 Billion in Earnings After Rate Rises

NAB Records $7 Billion in Earnings After Rate Rises
The logo of the National Australia Bank is displayed outside its headquarters building in central Sydney, Australia, on Aug. 4, 2017. David Gray/File Photo via Reuters
AAP
By AAP
Updated:

National Australia Bank has bumped up annual earnings to more than $7 billion following a “pleasing” year during which it reaped the rewards of rising interest rates.

Australia’s largest business-focused bank reported cash earnings of $7.1 billion for fiscal 2022, up 8.3 per cent from the previous year.

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