Cash earnings declined to to $5.18 billion for the full year to September 2014, down almost 10 per cent on the previous year due to earnings adjustments announced on 9 October.
NAB has been forced to write down $1.5 billion in relation to its troubled UK banking business.
Commenting on the result, NAB group chief executive Andrew Thorburn said it was "disappointing" to see the UK conduct provisions given that the Australian businesses are in "good shape".
"Our clear focus is on our Australian and New Zealand franchises and providing a better customer experience, and as a result we need greater urgency dealing to our remaining low returning assets," Mr Thorburn said.
NAB is considering "a broader range of options" when it comes to exiting its UK business, he said – including looking at executing the sale on public markets, he said.
On a statutory basis, NAB's net profit was $5.3 billion which was down 1.1 per cent on last year.
Revenue increased by 1.9 per cent with higher lending balances; expenses rose 21 per cent off the back of higher UK conduct provisions, impairments and R&D tax policy changes; and bad and doubtful debts were down 54.6 per cent to $877 million.
"We are very clear on our priorities for the next year and will focus our energy and resources on improving our customers’ experience, building better momentum in priority segments of our Australian Banking business, maintaining our balance sheet strength, accelerating progress on our low returning assets and closing the ROE gap to peers," Mr Thorburn said.
