Oct 28 (Reuters) - National Australia Bank Ltd NAB.AX :
* Nab 2015 full year results - delivering on strategic agenda NAB.AX
* FY net profit attributable to the owners of the company was $6.34 billion,an increase of $1.04 billion or 19.7%.
* Sale of 80% of life insurance business and partnership with nippon life
* FY cash earnings were $5.84 billion, an increase of $0.78 billion or 15.5%
* Says final dividend is 99 cents per share
* FY group net interest margin (nim) declined 4 basis points, mainly due to competition for business lending
* Intention to demerge and IPO cybg3 in February 2016
* Agreement to sell 80% of nab wealth's life insurance business to nippon life insurance company (nippon life) for $2.4 billion
* FY total charge for bad and doubtful debts (b&dds) of $823 million, down approximately 5% due to lower charges in Australian banking and UK banking
* Says nab's pro forma FY 2015 cet1 ratio is expected to increase by approximately 50 basis points after allowing for transaction and separation costs
* Group's common equity tier 1 (cet1) ratio was 10.2% as at 30 September 2015, an increase of 137 basis points from March 2015
* Says "transaction is expected to result in an indicative loss on sale of approximately $1.1 billion"
* One off post-tax costs of $440 million expected to be incurred by nab"
* Intention is to pursue demerger of approximately 75% of cybg to nab shareholders and sale of balance by way of IPO to investors
* Proposed cybg will have primary listing on London stock exchange and chess depositary interest listing on asx
* Nab will retain the mlc brand"
* "As part of agreement,nab will enter 20 year distribution agreement to provide life insurance products through owned and aligned distribution networks"
* Source text for Eikon ID:nL3N12R04Y
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