NAB announces 2024 Half Year Results

NAB Group CEO Andrew Irvine says the bank’s performance reflects consistent execution of NAB’s strategy in a challenging environment.

Releasing NAB’s 2024 Half Year Results to the market, Mr Irvine said: “Our strategy over the past four years has served us well and we are a simpler bank focused on getting the basics right.

“I’m one month in as Group CEO and I have been spending my time meeting with many customers and colleagues across Australia and New Zealand. What I have heard reinforces what I had experienced in my four years at NAB.

“That is, NAB is a good bank that is getting better because we have 38,000 colleagues who want to provide the best service to our customers every day. We have a leadership group who are executing a strategy that is working.

“We also have the right mix of businesses allowing us to make choices about where to invest and grow.”

NAB’s cash earnings decreased by 3.1% to $3,548m, while the Group Common Equity Tier 1 (CET1) ratio decreased 7 basis points from September 2023 to 12.15%.

An interim dividend of 84 cents per share was declared. This equates to $2.6bn being delivered to shareholders, many of them retail shareholders including Australian mums and dads and retirees.

The ASX statement and investor presentation can be found on NAB’s Financial Results page, opens in new window.

Read more about NAB customers Hacer and Local:Residential and their build-to-rent business innovation increasing affordable housing.