NAB has announced its 2022 Half Year Results, with cash earnings up to $3.48 billion.
The NAB interim dividend was 73 cents per share, fully franked, up 13 cents per share on the interim dividend for the Half Year ending 31 March 2021.
Speaking on the day of the result on 5 May, NAB CEO Ross McEwan said he was pleased with NAB’s performance, which reflected continued momentum in the bank and improving economic conditions.
“We are growing right across the bank. We are growing business lending, home lending, unsecured lending, deposits and transaction accounts,” he said.
“We are delivering better results because we are delivering for our customers and getting the basics right more consistently. We have a lot more to do.
“It’s not complex, it’s about the basics, but it takes discipline, focus and execution. And that’s what we must continue to do every day.
In NAB’s release to the ASX Mr McEwan said, “The execution of our strategy is delivering good results for our customers, colleagues and shareholders.”
“We are producing better and faster experiences and getting the basics right more consistently. This has been achieved during a period of increased customer activity across all divisions of the bank, including the fastest growth in business lending since the GFC,” Mr McEwan said.
“Our 2022 Half Year cash earnings increased 4% compared with the 2021 Half Year. Revenue rose 4.6%, benefitting from pricing discipline and strong growth in lending and deposits which were up 10% and 12% respectively versus March 2021.
Read NAB’s ASX announcement here.
Read more about NAB’s Half Year Results announcement here.
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