National Australia Bank's Profit Tops Estimates

NAB reported strong financial results with cash earnings of $6.56 billion, a 75% increase from the previous year, aided by winding back $217 million in provisions. The bank solidified its position as Australia's top business bank by growing lending to small and medium businesses by 7%. NAB also announced a policy to cap oil and gas lending at $2.4 billion, with plans to reduce lending from 2026 to 2050, aiming for net zero in its lending portfolio by 2050. This policy aligns with climate transition efforts, though it raises questions amid COP 26 discussions.

What was the percentage increase in Heidi Nabs' cash earnings compared to the previous year?

• 75%

• 25%

• 50%

• 100%

How much did Heidi Nabs reduce its provisions by during the pandemic?

• $300 million

• $500 million

• $150 million

• $217 million

By what percentage did Heidi Nabs grow its lending to small and medium businesses?

• 5%

• 10%

• 3%

• 7%

What is the cap set by Heidi Nabs for its oil and gas lending?

• $4 billion

• $1.5 billion

• $2.4 billion

• $3 billion

By which year does Heidi Nabs aim to achieve net zero in its lending portfolio?

• 2060

• 2050

• 2040

• 2030