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Financials

National Australia Bank flags hit to half-year earnings

April 20 (Reuters) - National Australia Bank Ltd announced on Monday a number of provisions for customer remediation and changes to a software capitalisation policy that is expected to reduce its first-half earnings.

A change to the application of NAB’s software capitalisation policy will reduce earnings by A$742 million ($471.3 million)after tax, NAB said.

Customer-related remediation charges are expected at A$268 million before tax for the period, the lender said. ($1 = 1.5743 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru; Editing by Peter Cooney)

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