© Reuters. FILE PHOTO: The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo
(Reuters) – National Australia Bank (OTC:) reported a 3% drop in its first-quarter cash profit on Wednesday as compared to the quarterly average of the second-half of 2023, hurt by higher cost pressures.
The country’s second-biggest lender by market valuation posted cash earnings of A$1.80 billion ($1.18 billion) for the quarter ended Dec. 31.
($1 = 1.5265 Australian dollars)