NAB profit jumps to $6.3bn

National Australia Bank says higher revenue has boosted its full-year results.

The bank’s after-tax profit for the 2015 financial year came in at $6.3 billion, up by 20 per cent from one year ago.

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Cash earnings increased just over 15 per cent to $5.8 billion.

Investors get a final dividend payout of 99 cents a share, fully franked.

The bank will sell 80 per cent of its life insurance business to Japanese insurer Nippon Life Insurance Company for $2.4 billion.

It will also hive off its loss-making Clydesdale and Yorkshire Bank operations in the United Kingdom.

– with ABC