Overview
- Cash earnings dipped 0.2% to $7.1 billion for the year to September as credit impairment charges increased, led by pressures in business lending.
- Revenue rose 2.9% on loan growth and wider margins, while operating expenses climbed 4.6% including a previously disclosed $130 million wage-underpayment charge.
- Credit impairment charges totaled $833 million, with management pointing to a handful of larger business exposures and some unsecured retail stress.
- CEO Andrew Irvine reported second‑half improvements in several asset‑quality measures and highlighted continued progress shifting more mortgage sales to NAB bankers.
- The final dividend was held at 85 cents per share, and the overall result was slightly below market expectations referenced by UBS.