National Australia Bank (ASX:NAB) announced its quarterly cash earnings totaling A$1.90 billion, an increase compared to A$1.80 billion reported the previous year.

The bank’s statutory net profit for the quarter was A$1.75 billion, a decrease from A$1.85 billion last year.

As the quarter ended, the CET1 ratio was reported at 11.9%.

The quarterly net interest margin was confirmed at 1.72%.

The bank stated plans to continue targeting productivity savings of approximately A$400 million in FY23.

A credit impairment charge of A$244 million was reported for the quarter.

Since March 2023, the ratio of collective provisions to credit risk weighted assets increased by 5 basis points, reaching 1.47% in the quarter.

A similar increment — of 5 basis points to 0.71% — was observed for 90+ days past due and gross impaired assets to gross loans and acceptances.

Despite the latest on-market share buy-back announced today, the capital levels of the bank remain healthy.

The liquidity and collective provision coverage are strong, with the bank having raised A$37 billion of term funding by the end of July.

National Australia Bank (ASX:NAB) is an international financial services firm, offering a full range of banking services to personal, business and corporate customers.