National Australia Bank has lifted its full-year cash profit to $6.642 billion, from $6.483 billion a year ago, but is still cutting 4,000 jobs.

National Australia Bank has lifted full-year cash profit 2.5 per cent to $6.642 billion and will cut 4,000 jobs over the next three years as part of a $1.5 billion restructure.

The lender on Thursday said cash profit for the 12 months to September 30 rose from $6.483 billion a year earlier on the back of a 2.7 per cent rise in revenue – with growth in both housing and business lending.

Statutory profit rose from 2016’s impairment-heavy $352 million to $5.285 billion, with the overall result in line with analyst expectations.

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November 6, 2017