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By Byron Kaye and Sameer Manekar
SYDNEY (Reuters) -National Australia Bank, the country's biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling.
The result amounts to what Australian banks hope is the end of a tough period dominated by rising arrears and margin sacrifices to win inflation-weary customers after interest rates rose 13 times since 2022 to ...
>>> Read more: Borrowing strain hits Q1 profit at Australia's NAB, shares dive
SYDNEY (Reuters) -National Australia Bank, the country's biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling.
The result amounts to what Australian banks hope is the end of a tough period dominated by rising arrears and margin sacrifices to win inflation-weary customers after interest rates rose 13 times since 2022 to ...
>>> Read more: Borrowing strain hits Q1 profit at Australia's NAB, shares dive
