NAB today released its first quarter trading update, which showed unaudited cash earnings were approximately $1.65 billion, which is 6% up on the prior corresponding period.

NAB Group CEO Andrew Thorburn said: “This is a solid first quarter result, which has seen the continued strengthening of our core Australian and New Zealand franchise and the further reduction of legacy issues.”

“We are making progress against the strategic priorities I announced on 30 October 2014, including our focus on the priority segments in Australia and New Zealand, comprising home loan, SME and Specialised Business customers.

“We know that we need to maintain this focus, including a balanced approach to investing and the achievement of productivity savings. This will deliver a better experience for our customers and better returns for our shareholders.”

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