0138 GMT - National Australia Bank's bulls at UBS think its full-year credit impairment charges could be lower than expected. Analysts at UBS point out in a note that the lender's expected credit loss charge of 15 basis points included a higher share of specific provisions and lower collective impairments during the June quarter. Based on the run-rate trend suggested by this composition, they reckon NAB's full-year credit loss ratio is likely to be lower than the 16 basis points expected by consensus. UBS has a last-published buy rating on the stock and a target price of 50.00 Australian dollars. Shares are down 3.6% at A$38.98.
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