NAB annual profit falls 9 per cent to $6.14b as home loan arrears climb
Bank says household consumption is expected to slow and housing market correction poses downside risk as credit impairment charges nearly double
National Australia Bank has posted a $6.14 billion annual profit, a 9 per cent decline from last year, as home loan arrears edged higher and the bank's credit impairment charges nearly doubled. Chief executive Andrew Irvine said the economic outlook remained uncertain, with global events weighing on confidence and many households and businesses managing higher living and operating costs.