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NAB posts 6.5% YOY increase in cash earnings for fiscal H1

National AustraliaBank Ltd. reported a 6.5% year-over-year increase in cash earnings forthe fiscal half year ended March 30 as its revenue increased and net margins improvedin the period.

The bank said May 5 that its cash earnings increased to A$3.31billion from A$3.11 billion in the prior-year period.

However, the bank reported net loss attributable to owners ofA$1.74 billion for the fiscal first half, compared with net profit of A$3.44 billionin the prior-year half. EPS for the period fell to A$1.207 from A$1.259.

The bank said the loss reflects discontinued operations, particularlythe loss from the demergerand IPO of Clydesdale Bank Plcof A$4.22 billion. Excluding discontinued operations, statutory net profit increased2.4% year over year to A$3.31 billion.

Net interest income for the period rose to A$6.60 billion fromA$6.21 billion. Net operating income came in at A$8.92 billion, compared to A$8.64billion.

The bank's net interest margin for the period clocked in at 1.93%,compared with 1.88% as of Sept. 30, 2015, and 1.92% as of March 31, 2015.

The total charge for bad and doubtful debts was A$375 million,down from A$399 million in the prior-year period.

The group's common equity Tier 1 ratio was 9.69% as of March31, compared with 10.24% as of Sept. 30, 2015, and 8.87% as of March 31, 2015. Thetotal capital ratio came in at 13.25% for the half, compared with 14.15% in theperiod ended Sept. 30, 2015, and 12.81% in the prior-year half.

As of May 4, US$1 was equivalentto A$1.34.