Australia's NAB Lifts 1Q Earnings 16% Amid Stronger Volumes
By Stuart Condie
SYDNEY--National Australia Bank lifted its first-quarter earnings by 16% amid stronger lending and deposit volumes.
Australia's third-largest bank by market capitalization on Wednesday reported cash earnings for the three months through December of 2.02 billion Australian dollars, equivalent to US$1.43 billion.
That was also up by 15% on the average of the prior two quarters. Mortgage and business lending grew by 1% and 2%, respectively, over the quarter. Net interest margin improved by two basis points to 1.80%.
NAB said total gross loans and acceptances rose by 1% over the quarter and by 6% from a year earlier to A$792.5 billion. Customer deposits, a key source of funding, also rose by 6%, to A$667.5 billion.
Operating expenses were up 5% on a year earlier at A$2.5 billion. NAB said it still aimed to reduce its full-year expense growth to below the 4.6% reported in its 2025 fiscal year.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
February 17, 2026 16:44 ET (21:44 GMT)
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