(Reuters) - National Australia Bank on Thursday joined its peers in flagging lower margins, even as the country's second-biggest lender posted a 9.1% rise in first-quarter profit due to growth in home and business lending.
Record low interest rates and fierce competition in the home loan market are crimping margins for Australian lenders, which are also taking a hit from borrowers switching to fixed-rate mortgages.
The bank said net interest margin, a key measure of profitability, fell 5 basis...
>>> Read more: National Australia Bank first-quarter profit rises 9% on robust lending
Record low interest rates and fierce competition in the home loan market are crimping margins for Australian lenders, which are also taking a hit from borrowers switching to fixed-rate mortgages.
The bank said net interest margin, a key measure of profitability, fell 5 basis...
>>> Read more: National Australia Bank first-quarter profit rises 9% on robust lending
