National Australia Bank FY Cash Earnings Up 76.8%

National Australia Bank Ltd. (NAUBF.PK,NABZY.PK, NAB.AX) reported that its cash earnings for fiscal year 2021 rose 76.8% to A$6.56 billion from A$3.71 billion in the prior year. On a per share basis, earnings were 191.0 cents up from 116.2 cents last year.

Net profit attributable to owners of the company increased to A$6.36 billion or 188.2 cents per share from A$2.56 billion or 108.6 cents per share last year.

Net interest income were A$13.80 billion down from A$13.92 billion in the previous year. Net operating income declined to A$16.81 billion from A$17.19 billion in the prior year.

"Looking ahead, I am cautiously optimistic that the worst of the economic impact of COVID-19 is behind us and that the Australian economy will rebound to pre-COVID-19 levels by the middle of 2022," said Philip Chronican, Chairman.

NAB have increased dividends across the full year to 127 cents per share, compared to a reduced level in 2020.

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