The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018.
But for the half-year ended Sept. 30, cash earnings sank as the impact of monetary policy tightening and inflationary pressures crippled households and the economy.
The annual performance of its business and institutional banking divisions stood out with of 10.1% and 14.9% in cash profits respectively, while the personal banking division was a drag on its results, posting a 9.1% decline in cash earnings to A$1.45 billion.
The bank reported a jump in its credit impairment charge for the year to A$802 million, up from just A$125 million a year ago, which it said reflected volume growth and worsening asset quality.
The bank declared a final dividend of 84 Australian cents per share, up from 78 Australian cents apiece a year earlier.
Persons:
Daniel Munoz, Ross McEwan, Roushni Nair, Archishma Iyer, Shounak Dasgupta, Jamie Freed
Organizations:
National, REUTERS, National Australia Bank, NAB, Thomson
Locations:
Sydney, Australia, Bengaluru