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(Reuters) -National Australia Bank said on Tuesday its third-quarter margins declined due to increased home lending competition and higher deposit costs.
A high interest rate environment has benefited Australian banks, but they now face headwinds from rising bad debt and increasing competition for mortgages.
Last week, the country's biggest lender Commonwealth Bank of Australia posted record annual profit on the back of rising interest rates, but warned higher living costs were pushing up debt...
>>> Read more: Aussie lender NAB's quarterly margins decline on stiff competition
A high interest rate environment has benefited Australian banks, but they now face headwinds from rising bad debt and increasing competition for mortgages.
Last week, the country's biggest lender Commonwealth Bank of Australia posted record annual profit on the back of rising interest rates, but warned higher living costs were pushing up debt...
>>> Read more: Aussie lender NAB's quarterly margins decline on stiff competition
