NAB Reports 4.2% Decrease in Revenue in FY19

  • Nov 07, 2019 AEDT
  • Team Kalkine

National Australia Bank Limited (ASX: NAB) revenue was down by 4.2% in FY19, though it was up by 1.1% excluding customer related remediation, depicting growth in business lending partly offset by lower margins. The Net Interest Margins declined by 7 bps to 1.78%.

Key Highlights of FY19:

  • Credit impairment charges increased by 18% to $919 million and as a percentage of gross loans and acceptance rose by 2 bps to 15 bps;
  • The company reported Common Equity Tier 1 (CET1) ratio of 10.38%, up by 18 bps YoY;
  • NAB declared a fully franked interim dividend of 83 cents per share, bringing the full year dividend to 166 cents per share.

At AEST 01:38 PM, the stock was trading at $28.420 per share, up by 2.44%.

 

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