NAB 2.22% $37.75 national australia bank limited

From ABC on lineOnly a low probability? Well, thats encouraging....

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    From ABC on line

    Only a low probability? Well, thats encouraging. Shite!!!!

    NAB ups estimated rogue trading loss
    The National Australia Bank (NAB) has upped its estimate of the losses stemming from a rogue trading currency scandal and warned there could be more to come.

    The bank now says the removal of fictitious trades from its foreign currency options portfolio will result in a pre-tax loss of $185 million.

    That is slightly above the original estimate of $180 million.

    The NAB says it is undertaking a market revaluation of the remaining portfolio, which could lead to additional losses.

    It says there is a very low probability that the total losses will be as high as the $600 million being speculated on in the market.
 
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