Image of the NAB logo
Source: Daniel Munoz/Reuters
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

National Australia Bank Ltd (ASX:NAB) has posted an 8.1% drop in cash profit for the 2024 Fiscal Year compared to the prior comparative period, but said its performance during the second half of the year indicated rebound from a sluggish first half.

The bank’s cash profit for the second half of FY24 was $7.1 billion, while its final dividend for FY24 was 85 cents per share – a rise of one cent per share compared to FY23.

NAB CEO Andrew Irvine said the results still indicated growth was present in a variety of areas.

“Our FY24 performance has benefitted from focused execution of our strategy and a more stable operating environment over the second half of the year,” he said.

“Cash earnings were 8.1% lower than the strong levels of FY23, but stable over 2H24 compared with 1H24.

“Consistent investment to deliver better customer outcomes has supported another year of strong growth in our leading SME franchise, with Business & Private Banking (B&PB)
increasing deposits by 7% and business lending by 8%.

“In Australian housing, our growth was sub-system at 3% as we balanced growth against competitive pressures. We will continue to manage portfolio returns through a disciplined
approach in this dynamic market.”

NAB has been trading at $39.25

Join the discussion: See what HotCopper users are saying about NAB and be part of the conversations that move the markets.

NAB by the numbers
More From The Market Online
An Optus storefront.

Optus voicemail overhaul a $3m win for Norwood Systems

Optus is all set to replace its voicemail system after forging a nearly $3 million deal…
A mountain range where Advance Metals is digging for gold.

‘Couldn’t be happier’: Maiden Myrtleford drilling leads Advance Metals to best gold hit to date

Gold explorer Advance Metals (ASX:AVM) is celebrating three hits in as many holes at its Myrtleford Project in the
Ukrainian soldier with the flag of their country

The US has suspended aid to Ukraine. Will Europe step into the breach?

In the wake of a disastrous meeting between Donald Trump and Volodymyr Zelensky last week, US…
The Market Online Video

ASX Market Open: Bounceback to survive a second day Down Under | March 18, 2025

Week 12’s global rally is holding firm early this Tuesday morning, with ASX 200 futures pointing to a +0.83% gain (to 7,907 points)...