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NAB lifts Q3 profit 5% after rate hikes

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August 11, 2017

National Australia Bank has lifted first-quarter cash profit five per cent to $1.7 billion.

National Australia Bank's unaudited third-quarter cash profit of $1.7 billion is up five per cent on the same period last year, helped by higher mortgage rates.

NAB says revenue for the three months to June 30 rose two per cent thanks to lending growth and a higher net interest margin resulting from loan repricing and what it said were more favourable funding conditions.

The bank in March lifted its standard variable mortgage rates for both owner-occupiers and investors.

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