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BRIEF-National Australia Bank updates on impact of bank tax levy
May 22, 2017 / 8:36 AM / 6 months ago

BRIEF-National Australia Bank updates on impact of bank tax levy

May 22 (Reuters) - National Australia Bank Ltd:

* Asx alert-open letter to shareholders on major bank tax-nab.ax

* Tax (from bank levy) could cost NAB approximately $350 million annually, or $245 million post tax

* “Actual cost will not be known until final legislation for tax has been passed and we can fully assess impact on NAB’s business”

* “NAB will continue to strongly object to this tax”

* “No decisions have been made on how we will seek to manage cost of this new tax” Source text for Eikon: Further company coverage:

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