National Australia Bank (NAB) has reported an attributable net profit of A$6.34bn for the full year ended 30 September 2015, an increase of 19.7% compared to A$5.29bn a year ago.
The lender’s cash earnings increased 15.5% to A$5.84bn from A$5.05bn in 2014. Underlying profit was A$9.39bn, a 10.1% increase from A$8.53bn posted a year earlier.
Net interest income stood at A$14.02bn, a rise of 4.2% from A$13.45bn in the previous year.
The bank said that its operating expenses during the year declined marginally to A$9.89bn from A$9.99bn last year.
Commenting on the group’s performance, NAB Group CEO Andrew Thorburn said: "In 2015 we have been focused on delivering against our plan – driving improved performance in our Australian and New Zealand business, investing for growth, delivering significant technology milestones for our customers, building a stronger balance sheet and exiting our legacy and lower returning assets."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData