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NAB Profit Surges on Business Lending Boom
17 Aug
Summary
- National Australia Bank's cash earnings rose in the third quarter.
- Lending to businesses across Australia expanded significantly.
- Home loan applications saw a notable decrease during the period.
National Australia Bank (NAB) has announced a profit increase for the third quarter of the financial year.
This positive financial performance was fueled by substantial growth in lending to businesses across Australia.
Unaudited cash earnings for the three months concluding on June 30 reached A$1.83 billion. This period also saw a 15% reduction in home loan applications.
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