** Shares of National Australia Bank NAB.AX fall as much as 2.9% to A$43.26, marking their biggest intraday percentage drop in six weeks

** Australia's third-largest bank by market value reports FY cash profit of A$7.09 billion ($4.61 billion), missing Visible Alpha consensus estimate of A$7.17 billion

** FY credit impairment charge rises 14.4%, operating expenses climb 4.6%

** NAB's CET1 ratio falls to 11.70%, which is 12 bps below Visible Alpha estimate

** Bank's non-performing exposures to gross loans ratio also rise 16 bps to 1.55%

** Citi analysts note the "slightly soft" result and expect the market to remain focused on divergence in asset quality trends in NPL formation and impaired assets vs peers

** As of last close, stock up 20% YTD

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))