NAB share price closes up 4% after Q1 update, hits record high and puts capital in focus
NAB shares rose 4.0% to A$47.14, hitting a record A$47.96 after reporting first-quarter cash earnings up 16% to about A$2.0 billion. Net interest margin increased to 1.80%, while credit impairment charges fell to A$170 million. The bank’s core capital ratio slipped to 11.48% from 11.70%. Investors are watching capital levels and the May half-year result.