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Australia's NAB drops as full-year cash profit misses estimate, logs higher provisions

By Reuters News

** Shares of National Australia Bank NAB.AX fall as much as 7.9% to A$37.92, their lowest since October 12

** Stock set for its weakest session since February 19, 2025, if current trend holds

** Australia's largest business lender posts full-year cash profit of A$6.14 billion($4.30 billion), down from A$7.09 billion last year and below the Visible Alpha consensus estimate of A$6.33 billion

** NAB reports a 86% rise in credit impairment charges to A$1.55 billion for the year, equal to 0.19% of gross loans and advances, the highest since September 2020

** YTD, stock down 9.4%


($1 = 1.4267 Australian dollars)

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