Original article by Richard Gluyas
The Australian – Page: 19 & 23 : 13-Mar-19
National Australia Bank has disclosed that 310,000 customers have collectively been paid $110m over the fee-for-no-service scandal since mid-2018. Acting CEO and chairman-elect Phil Chronican has also used a letter to shareholders to concede that much more work needs to be done at NAB, and he has stressed the need to ensure that the bank always get things right for customers. Meanwhile, chief people officer Lorraine Murphy has become the first NAB executive to resign since the recent leadership changes.
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AMP LIMITED – ASX AMP, MACQUARIE GROUP LIMITED – ASX MQG