NAB earnings down twenty per cent
National Australia Bank will today announce a twenty per cent fall in annual cash earnings to about $3.9 billion, the worst result for the bank since 2004. In guidance provided by NAB to the share market last week, the bank says it will maintain its dividend of 97 cents per share and report strong liquidity and capital ratios. NAB announced last month it would book a loss of $100 million on collateralised debt obligations, in addition to the $1.2 billion loss it had already announced on its holdings of CDO's.
Source: The Australian Financial Review