National Australia Bank Limited (NAUBF)
- Reuters
Australia's NAB warns of higher costs again, shares slip
(Reuters) -National Australia Bank flagged higher expenses for the second time in four months on Tuesday, citing higher personnel and leave costs, sending shares of the country's second-largest lender more than 4% lower in their worst day since mid-June. NAB, Australia's biggest business lender, bumped up its cost forecast for 2022 to between 3% and 4% from 2%-3%. Part of the cost jump comes from expected provisions of between A$60 million and A$100 million ($41.92 million and $69.86 million) related to a previously disclosed agreement with Australia's financial crime regulator to fix shortcomings in anti-money laundering compliance.
- Simply Wall St.
Investing in National Australia Bank (ASX:NAB) a year ago would have delivered you a 21% gain
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