Australia’s largest business bank has raised the alarm about the impact of global trade tensions on the outlook for the nation, after reporting a slight rise in half-year earnings.
National Australia Bank posted cash earnings of $3.6 billion for the half-year ended March, up one per cent from the same period in 2024.
“We are optimistic about the underlying growth outlook for the Australian and New Zealand economies,” CEO Andrew Irvine said on Wednesday.
“However, escalating global trade tensions are a key source of uncertainty.”
The trade issue is being driven by the United States, after President Donald Trump imposed large tariffs on goods imports from countries around the world, including Australia, sparking threats of retaliation.
Mr Irvine said NAB, which is one of Australia’s big four banks, was “managing our business well” despite continuing challenging market operations.
“We have maintained strong balance sheet settings,” he said.
“Our bank is in good shape.”
NAB declared an interim dividend of 85 cents per share, up one cent on last year’s payout.
The bank’s result was slightly better than Westpac’s, which on Monday, posted first-half earnings of $3.3 billion, down one per cent, and an interim dividend of 76 cents.
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