National Australia Bank first-quarter profit falls 3 percent

(Reuters) - National Australia Bank Ltd reported a 3 percent fall in first-quarter cash profit on Thursday as margins fell on pressures in home lending.

NAB posted unaudited cash earnings of A$1.65 billion (£935.9 million) for the three months ended Dec. 31.

Australia's four major banks are paying the cost of years of poor compliance and misconduct, exposed in a special government-led inquiry.

(Reporting by Aditya Soni in Bengaluru; Editing by Stephen Coates and Neil Fullick)