The bank posted a $2.7 billion quarterly profit, but its shares fell sharply on concerns economic headwinds and budget measures will stall lending growth.
Australia’s largest business lender, National Australia Bank , on Monday said it expects to incur credit impairment charges of A$706 million ($503 million) in the first half, as the Iran war roils the global economy and financial markets.
The country’s supermarket giants will benefit from higher shelf prices and fewer consumers dining out over the next year, according to analysts at UBS.
