The bank, which is being demerged from National Australia Bank (>> National Australia Bank Ltd.), reported 6.6 percent growth in its loan book on an annualised basis.

"Asset quality remains strong with continuing low impairment charges in the quarter," the bank said in a first-quarter trading update.

Net interest margin over the three months was stable and in line with guidance of 2.2 percent on an annualised basis, the company said.

(Reporting by Huw Jones; editing by Jason Neely)