National Australia Bank set the scene for Australia’s bank reporting season on Tuesday, announcing a large increase in bad debt charges and warning that market conditions had worsened. Australia’s largest lender said net profits slipped 1% to A$2.6bn in the six months ended March, while cash earnings fell 9% to A$2bn, at the lower end of market estimates.

This entry was posted by Gwen Robinson on Wednesday, April 29th, 2009 at 5:06 and is filed under Capital markets. Tagged with nab. Edit this entry.