National Australia Bank recorded a net profit of $352 million for the year to September 30, 2016, down from $6.3 billion reflecting the loss on sale for both CYBG and 80% of NAB Wealth's life insurance business.
Excluding discontinued operations, statutory net profit decreased 5.6% to $6.42 billion.
Revenues were up 2.5% benefiting from higher lending balances and stronger markets and treasury income.
Expenses rose 2.2% with higher personnel costs and increased technology related amortisation and project spend.
The charge for bad and doubtful debts rose 7% to $800 million, reflecting higher specific charges relating to the impairment of a small number of large single name exposures in Australian Banking.
CEO Andrew Thorburn said: Improving momentum and stabilising margins in business banking have been particularly pleasing, with lending and revenue growth focused on higher returning priority segments. In personal banking, we made good progress in restoring home loan volume growth back to system levels after a period of significant change in pricing and credit policies.