National Australia Bank has delivered improved first-half cash earnings and lifted its interim dividend as a rebound in economic conditions helped stronger lending and deposit volumes, particularly in its business and institutional segments.
But Australia's second biggest bank by market value joined smaller rival ANZ in casting aside its cost reduction target, arguing this was not feasible in an environment of rising inflation and competitive pressures.
NAB reported half year cash profit of $3.48 billion, a 4.1 per cent improvement from the the same period a year ago.
