In today’s briefing:
- NAB – Profit Slightly Down in 3Q, Credit Costs Collapsed, but Bad Loans Are Rising Significantly
NAB – Profit Slightly Down in 3Q, Credit Costs Collapsed, but Bad Loans Are Rising Significantly
- NAB reported its 3Q24 results with slightly lower profit, but major divergence inside the figures
- The bank shows a staggering decline in credit costs in 3Q24, which means the results were flattered
- This is despite a very sharp rise in bad loans in major segments, corporate and residential mortgages, up around 50% YoY annualized in 3Q24
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