Australia's NAB to pay another A$478m in wealth-related remediation

Pedro Gonçalves
clock • 1 min read

National Australia Bank has flagged an additional A$749 million ($537.18 million) in charges to refund thousands of wronged customers, with 91% of it going towards wealth-related matters. The A$525 million (after tax) is for 1H19 and in addition to A$145m already paid out to customers since June 2018 and provisions already made in 2H18 that have not yet been distributed. The total owing is now estimated at more than $1.1bn. "We are putting things right where we have treated our customers poorly and making sure that they are compensated more quickly. Since June 2018, we have made appro...

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