Original article by Joyce Moullakis
The Australian – Page: 16 : 21-Apr-20
National Australia Bank has advised that its cash profit for the six months to 31 March will be marred by writedowns totalling $1.14bn. This includes a $188m provision for customer remediation and an impairment charge of $742m associated with its software capitalisation policy. Westpac recently warned that its half-year results will include some $1.43bn worth of write-downs. Meanwhile, analysts expect the major banks’ loan losses and dividend payouts to be a key focus for investors when their interim results are released.
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ