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."