Major bank sounds alarm on global trade war impact | Australian Markets

Australia’s largest business bank has raised the alarm concerning the impact of global trade tensions on the outlook for the nation, after reporting a slight rise in half-year earnings.

National Australia Bank posted money earnings of $3.6 billion for the half-year ended March, up one per cent from the identical period in 2024.

“We are optimistic about the underlying growth outlook for the Australian and New Zealand economies,” CEO Andrew Irvine stated on Wednesday.

“However, escalating global trade tensions are a key source of uncertainty.”

The trade challenge is being pushed by the United States, after President Donald Trump imposed giant tariffs on items imports from nations across the world, together with Australia, sparking threats of retaliation.

Mr Irvine stated NAB, which is one of Australia’s large 4 banks, was “managing our business well” regardless of persevering with difficult market operations.

“We have maintained strong balance sheet settings,” he stated.

“Our bank is in good shape.”

NAB declared an interim dividend of 85 cents per share, up one cent on final 12 months’s payout.

The bank’s outcome was barely higher than Westpac’s, which on Monday, posted first-half earnings of $3.3 billion, down one per cent, and an interim dividend of 76 cents.