November 6, 2019 / 9:10 PM / a month ago

National Australia Bank full-year profit down 11%

Nov 7 (Reuters) - National Australia Bank Ltd reported a 10.6% drop in annual cash earnings on Thursday, missing estimates, as remediation charges plague the country’s third-largest lender and chip away at its capital levels.

Cash earnings came in at A$5.10 billion ($3.51 billion) for the year ended Sept. 30, missing an average estimate of A$5.15 billion of analysts polled by Reuters. Last year, the lender reported earnings of A$5.70 billion.

The company declared a final dividend of A$0.83 per share, down from A$0.99 per share last year. ($1 = 1.4531 Australian dollars) (Reporting by Rushil Dutta and Nikhil Kurian Nainan in Bengaluru; Editing by Shounak Dasgupta)

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