Oct 2 (Reuters) - National Australia Bank Ltd (NAB) : ANNOUNCES...

Oct 2 (Reuters) - National Australia Bank Ltd (NAB) :

• ANNOUNCES ADDITIONAL COSTS FOR REMEDIATION AND SOFTWARE
• NAB- ANNOUNCED ADDITIONAL CHARGES OF $1,180 MILLION AFTER TAX ($1,683 MILLION BEFORE TAX) RELATING TO INCREASED PROVISIONS FOR CUSTOMER-RELATED REMEDIATION
• NATIONAL AUSTRALIA BANK- CHARGES EXPECTED TO REDUCE 2H19 CASH EARNINGS BY AN ESTIMATED $1,123 MILLION AFTER TAX
• NAB- PROVISIONS TO REDUCE 2H19 CASH EARNINGS BY ESTIMATED $1,123 MILLION AFTER TAX & EARNINGS FROM DISCONTINUED OPERATIONS BY ESTIMATED $57 MILLION AFTER TAX
• NAB - 2H19 RESULT WILL INCLUDE CHARGES OF $832 MILLION AFTER TAX ($1,189 MILLION BEFORE TAX) FOR ADDITIONAL CUSTOMER-RELATED REMEDIATION
• NAB-ANNOUNCED ADDITIONAL CHARGES OF $1,180 MILLION AFTER TAX RELATING TO INCREASED PROVISIONS FOR CUSTOMER-RELATED REMEDIATION
• LATEST CHARGES BRING TOTAL PROVISIONS FOR CUSTOMER-RELATED REMEDIATION AT 30 SEPTEMBER 2019 TO $2,092 MILLION
• NAB - CHANGE EXPECTED TO REDUCE NAB'S CAPITALISED SOFTWARE BALANCE AT 30 SEPT BY $494 MILLION AND NAB'S 2H19 CASH EARNINGS BY $348 MILLION (POST TAX)
• NAB-FOLLOWING A REVIEW OF SOFTWARE CAPITALISATION POLICIES, MINIMUM THRESHOLD AT WHICH SOFTWARE IS TO BE CAPITALISED INCREASED FROM $0.5 MILLION TO $2 MILLION

Source text http//reut.rs/2pc1Fch

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