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National Australia Bank Limited (ASX:NAB) has posted a 9 per cent lift in profit, with full-year cash earnings hitting a record $5.94 billion.
The lender says its bottom line has benefited from lower charges for bad debts in the year to September, especially in Britain, where the economy has been showing signs of recovery.
Profits from home lending also underpinned a surge in earnings in its personal banking arm.
Revenue grew at a fairly modest pace of 2 per cent, but the bank's charge for bad and doubtful debts fell by $681 million to $1.9 billion.
Investors will receive a final dividend of 97 cents a share, 7 cents more than last year, taking distributions for the full year to $1.90.
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