Westpac posts $7.82 billion cash profit, driven by retail and business banking

Westpac Banking Corp has lifted its full year statutory profit six per cent to $8.01 billion.

Cash profit rose three per cent from a year earlier to $7.82 billion.

The bank will pay a fully franked final dividend of 94 cents per share.

"Australian retail and business banking has been the key driver of performance," chief executive Brian Hartzer said.

"However, some market headwinds contributed to a softer performance in our wealth and institutional businesses," he added.