National Australia Bank Limited (NABPF.AX,NABZY,NAUBF) has released its third-quarter trading update, including revised guidance on operating expenses. The bank now expects fiscal year 2025 expenses to be approximately 4.5% higher than fiscal year 2024, driven in part by an estimated A$130 million in costs related to the ongoing review and remediation of payroll issues. NAB noted that total costs remain uncertain as the remediation process continues.
Since initiating its payroll review in 2019, NAB has invested heavily in improving systems, processes, and employee support. This includes continued investment in a new human resources and payroll platform. Between fiscal year 2020 and fiscal year 2022, the bank incurred A$250 million in related costs.
National Australia Bank reported unaudited statutory net profit of A$1.66 billion and cash earnings of A$1.77 billion for the third-quarter of 2025.
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