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by Chris Becker
Following last week’s annual report from CBA and the quarterly updates from ANZ and Westpac, the ugly ducking of Megabank, National Australia Bank (NAB) reported this morning before markets open from the weekend gap.
It doesn’t make for pretty reading, with a near three percent fall in cash earnings for the third quarter, compared to the same period last year. This was mainly on the back of no growth in revenue and a higher cost of funding and bad loans.
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