National Australia Bank, the fourth biggest bank in Australia, announced today that it had reported a growth of 21% in its first half net profit. However, NAB finished the last among the top four banks in Australia in terms of profitability in the first six months of the year. NAB also said that it is trying to get more profitable in the next 12 months it expects an upswing in its business lending in the coming year.

National Australia Bank said today that the net profit in the first half of the fiscal was reported of $A2.09 billion, increasing by 21.6% while it was reported of $A1.71 billion in the same period last year. The cash profit for the first half was reported of $A2.19 billion, increasing by 8.2% while it was reported of $A2.02 billion in the previous corresponding period.

National Australia Bank said in its half yearly results that total revenue in the first six months of the fiscal was reported of $A8.2 billion, decreasing by 3.3% while it was reported of $A7.93 billion in the same period last year.

NAB said that most and least profitable sections in the first half were its business banking division and personal banking division respectively. Net profit from its business banking division jumped 33% to $A1.09 billion in the first half. On the other hand profit at its personal banking division fell 22.3% to $A317 million in the period.