Australia News

NAB Cash Earnings Slide 16.9 Percent, Still Beating Market Expectations

The bank’s share price rose 0.36 percent on the market on Feb. 21.
NAB Cash Earnings Slide 16.9 Percent, Still Beating Market Expectations
People walk past a National Australia Bank (NAB) branch in Melbourne, Victoria, Australia, on Oct. 27, 2023. Susan Mortimer/The Epoch Times
Monica O’Shea
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National Australia Bank (NAB) has reported unaudited cash earnings of $1.8 billion (US$1.2 billion) in the first quarter of 2024, down 16.9 percent compared to the prior corresponding quarter.

However, this result beat market expectations, with the NAB share price rising 0.36 percent, closing at $33.61 on the Australian Stock Exchange (ASX). For perspective, Commonwealth Bank of Australia shares shed 1.99 percent on Feb. 21, while Westpac shares fell 0.04 percent.

Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]
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