National Australia Bank's earnings slip 1% in 1Q17

Blame it on the 5% increase in costs.

According to Reuters, National Australia Bank Ltd, the No. 4 lender by market value, on Monday reported a 1% fall in first quarter unaudited cash profit as costs grew faster than revenue. NAB posted unaudited cash earnings of A$1.6 billion ($1.23 billion) in line with market expectations for the quarter ended Dec. 31, with its net interest margin remaining "broadly stable". 

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