"NATIONAL Australia Bank, the parent company of Nationals Irish Bank, has reported a 12 per cent jump in pre-tax profits to 781 million Australian dollars (£366.3 million) for the three months to the end of December, 1995. Group managing director Mr Don Argus described the performance as "steady" in an increasingly difficult operating environment. Reflecting that environment, the charge for bad and doubtful debts rose to Aus$58 million from Aus$33 million.

The US bank, Michigan National, acquired in November 1995 made "a good contribution".

Separate results were not provided for NIB, but profits fell by 13 per cent at group operations in Britain and Ireland to Aus$79 million, reflecting mainly higher bad debt provisions at Yorkshire Bank.