NAB posts $7.73 billion profit for 2023

The National Australia Bank has posted a $7.73 billion profit in its full-year report.

It’s an 8.8 per cent rise in its annual cash profit.

This comes after elevated interest rates and an increase in lending and deposits throughout the year.

Analysts had predicted a profit of $7.8 billion for the bank.

The net interest margin rose nine basis points to 1.74 per cent on an adjusted basis.

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