NAB FY24 financial results overview

National Australia Bank (ASX:NAB) has announced its Full Year Results for 2024, revealing a strong financial performance. Despite a 6.9% decrease in underlying profit to $11,631 million, cash earnings rose by 8% from FY22 to $10,823 million. The bank is focusing on customer advocacy, simplification, and strategic initiatives to enhance growth.

NAB's strategic direction and economic outlook

The National Australia Bank (ASX:NAB) has delivered a robust financial performance for FY24, focusing on customer advocacy and strategic investments to drive growth. The bank aims to leverage digital transformation and sustainability as key areas of focus. NAB anticipates a soft landing for the Australian economy, with moderated inflation and potential cash rate cuts in 2025. The bank maintains a strong capital and liquidity position, ensuring stability. Its commitment to sustainability and community initiatives highlights NAB's dedication to environmental and social well-being.

Executive insights on NAB's FY24 success

Our strong financial performance in FY24 reflects the disciplined execution of our strategy over the past four years. We are committed to enhancing customer advocacy and simplifying our operations to support growth and returns. The resilient business activity and stable economic conditions in Australia present a positive outlook for NAB.